A Default Setting That Can Ease the Student Loan Crisis

Student loans are imposing crushing burdens on millions of young Americans. According to one account, about one-quarter of the borrowers who began repaying their loans in 2005, 2007 or 2009 have since defaulted on them. That number greatly understates the economic hardship, not to mention the daily anxiety, produced by the pressures of repayment. What if there was an easy way to respond to the student debt crisis? A response that did not involve heavy-handed regulatory interventions? ….[READ]