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The Crimson Staff

The financial aid office should consider debt forgiveness

NO WRITER ATTRIBUTED

Last week's announcement of an increase in financial aid was a strong step towards alleviating the burden of debt which weighs on many students, but it was only a first step.

Through an unscientific process of personal interviews with students, the Office of Career Services (OCS) has discovered what we suspected all along: many students choose high-paying jobs over other career opportunities purely in order to repay their college loans.

College administrators say this trend helped them make the decision to increase financial aid, thereby reducing some of the loan debt incurred by students. Nevertheless, average student debt is $18,800. With these staggering figures in mind, we would like to suggest the College examine the possibility of loan forgiveness for students who choose to enter low-paying jobs involving public service or education.

Such a plan is not unheard of at Harvard. Both the Kennedy School of Government and the Law School have loan forgiveness plans to help students not entering high-paying jobs. The Kennedy School grants eligibility for loan forgiveness to students "engaged in qualifying public service positions, employed by a governmental or nonprofit organization and receiving a salary of no more than the limit which is announced annually." Likewise, the Law School states that its program "seeks to ensure freedom of job choice within the legal profession by providing loan repayment assistance to our graduates who take full-time, low paying, law-related jobs."

The specifics of the programs are more complex, of course, and developing such a system at the College would no doubt require a good deal of time and thought. But while the recruiting system may be just what some students are looking for, it shouldn't be the only option for those who wish to explore other, less lucrative opportunities.

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