Navigator wrote:
That makes sense if you are loaning the money to your daughter but students borrow money from banks. If no interest is charged what motivation would you propose for banks to loan their money for student loans when without charging interest, what is know to banks as their income, the banks will be unable to pay their property taxes, insurance, rent, utilities, employees, their own creditors, advertising, maintenance, etc.?
News flash! A lot of students are defaulting on student loans, now more than ever. Good luck getting that money back any time soon. You need a J-O-B to repay debt or well-to-do parents. Something most Americans don't have, right now.