When student loan interest rates are higher than mortgages, car loans, and other high-dollar loans, it sends a very poor message to U.S. college graduates: "We recognize your hard work, and in return, we will make it difficult for you to pay back your student loan debt." For example, paying 7% to 8% on a student loan through a company such as Nelnet is criminal. There should be a maximum interest rate in place that student loan companies are allowed to charge--perhaps a cap of 3%.
We encourage folks to receive a college education, but until colleges stop increasing tuition at a fast pace and student loan companies stop charging high interest rates, many will not be able to attend college, or default may be the only answer. Do we want a poor, uneducated society?