If the student loan cannot fall under bankruptcy protection, then the degree must be a fixed priced (averaged per state), according to a calculation including income potential and other relevant details. This would be irrespective of the institution and its prestige. And repayment should be extended with monthly payments reduced as needed (with oversight) for borrowers in danger of default. Otherwise, charge all you want. But make it bankrupt-able. Private schools (art, et al) need to have forced financial reforms.
My child applied to CalArt three years ago and got accepted. Would have been $260k for an undergrad back then, but itâ(TM)s through private loans with very little to no financial aid. Many students get a loan for year 1 and canâ(TM)t get a loan for subsequent years. So massive debt with no degree. Disney must be proud. No, my child didnâ(TM)t go.