If people can't be responsible enough to pay back their loans, then perhaps the student loan program should be stopped. The problem with that approach is that it punishes those who use the program wisely due to the actions of those who abuse the program. That would be like stopping the sale of all alcohol because a small percentage abuse it and end up hurting themselves, their family, and perhaps others too.
Once again, it's not the problem of the program, it's that some people don't use it wisely. There are ways of substantially reducing the amount of money a student needs to borrow.
Spending the first 2 years in a local community college would help for many. Staying in-state would help for many others. Working and going to school part time would help many others. Going into the military for a few years might pay for ALL of it.
The problem with choosing any of the above alternatives to help pay-as-you-go is that it often doesn't allow the student to party for 4+ years at the out of state school that is the coolest and do it all on borrowed money. The advantage to using one or more of the above alternatives is that you graduate with little or no debt.
I would hate to see the student loan program eliminated because it has provided a means of getting a college education to many students who otherwise would not have been able to afford it, but if people don't stop abusing it or using it unwisely, it just might be curtailed.
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