No Student Loans for Low-Pay Degrees

In 2015, if a private college can't show that at least 35% of graduates with a given degree can pay back their loans, students entering that major won't be eligible for student loans. Pretty smart program.

http://www.npr.org/2011/06/02/136897408/for-profit-colleges-face-new-rules

Not surprisingly, private colleges are upset about it - they want that free money to keep people entering majors they know don't lead many kids to successful careers.

It would be nice if a law went farther, and required students entering a major or considering majors to be informed of:

• Average employment rate
• Average employment rate within the chosen field
• Average salary in 1 year and 5 years
• Average time to repay
• Average delinquency rate

of past graduates as a whole. It's fine if people want to say they went to college for intangible hard-to-measure reasons, but when it's putting you in a tangible $100,000+ in debt, it's time to be serious.