America Can Fix Its Student Loan Crisis. Just Ask Australia.


Around the world, students borrow money to pay for college, but, in the United States, students are more likely to fall behind on loans. Australia may offer some lessons: borrowers in Australia only start paying back their loans once their earnings reach $40,000, and beyond that they pay four percent of their income until the loans are repaid. The system does not penalize borrowers when they face economic hardship.

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