April 2, 2013

HIGHER EDUCATION BUBBLE UPDATE: Missouri College Drops Student Loans. “A small college in Missouri has come up with a surprisingly simple solution to the student loan crisis: it will no longer accept students who take out loans to pay for tuition. Instead, for the 90 percent of its students who require some form of financial aid, the college offers students a number of on-campus work opportunities. Rather than cash, students earn credits for tuition. . . . This is certainly a radical move, but there are a number of things to praise here. With the student loan crisis escalating, it’s good to see a college considering students’ long-term interests. They’ll have to work hard for their education, but won’t graduate under a crushing debt burden like many of their peers. Plus, they’re not just staffing libraries in a typical work-study program; they’re getting something closer to the real-world work experience that so many college grads lack.”

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