I'm beginning to hold the opinion that any loan offered to a student in higher education should be (a) held to an interest rate that is no more than prime plus 1 percent (calculated on the year the loan is taken out) or (b) provided without interest, for a one-time fee that is proportionally paid back over the life of the loan.

I also think that student loans, if they're going to be provided with interest charges, should become progressively cheaper each year one spends in higher education (including graduate school). This would create a nominal, built-in incentive for every person to obtain the highest credential possible---and hopefully learn the most they can along the way. - TL