We have a student debt crisis that is growing every day. As a nation we now have 1.2 trillion dollars in student loan debt which is the second only to home loans for highest person debt. 1/3 of those student loans are currently in deferment, forbearance or default.
The average debt for undergraduates is greater than $30,000 and the average for graduate professional schools like medical, dental and law are over $250,000.
In this economy young people need a quality college education to be able to compete in the current job market. Therefore student loans are a cost of doing business in the US and should be paid out of their gross income rather than their net income just like any other business expense.