The US university loan system is fucked. We have a government-run loan scheme called HECS. You defer your university fees throughout the duration of your studies, apparently no matter how long they last. The programme is not means tested at all, so it is available for every single domestic student studying uni here, no matter what. That loan is then paid back only once you start earning more than a threshold amount o…
"Poor" people still have to pay 10% (accumulated) interest on the loan (it does not matter if the interest is called 'discount') and you still leave the system with a loan of $18-30k.
If a country wants to advance technologically or academically, it should have cost-free universities like there are cost-free schools. Why do people not understand that?