The indebted ones

This topic should be very familiar to us. It is about student's debt risk in America. In fact, the violent protests in UC and England have shown that students are enduring a financial burden in this period. For example, according to the article, because the cost of higher education in the US is very large, it is expected that student loans could be close to $1 trillion. If the unemployment rates is so high, students are not able to cover their debts after graduation. The article provides several solutions. It believe that the bankruptcy law should be changed. Because some people think that graduates would rush to declare bankruptcy, in order to avoid the debts. I also suggest that the student debe should act like mortgage obligation: it is repaid to a fixed schedule. In my opinion, both students and bank have the responsibility to ensure the minimum possibility of "lost debt"

Source: http://www.economist.com/node/21534781