Private student loans are vilified. Subprime mortgage loans are slowly being eradicated. But there is another loan product readily available to borrowers that could do even more damage: PLUS loans. As a part of the student funding program offered by the Department of Education, PLUS loans fill in the large gaps left by limited federal options like Perkins Loans and federal grants.

A college education in modern America is one of the most expensive things a person can pay for. With soaring tuition costs and the average student loan debt now over $30,000, there is just no end in sight to the expensive endeavor that obtaining a degree has become. In order to halt this trend, it was only a matter of time before someone pushed forward legislation that would make college attendance tuition-free, much like the universities of many foreign countries. Just this month, Oregon passed legislation that would roll out a new program to make college’s within the state a more affordable endeavor .

After graduation, most students struggle to repay their student loan debts. But a growing number are facing debts that have been exacerbated by drug, alcohol, and even shopping addictions. A recent report by a local NBC affiliate found that some students are taking out federal and private student loans, using the funds to pay for their vices, and never pursing their education. 

Imagine a bachelor’s degree program that is only focused on understanding, rather than time spent in a classroom. Competency-based educational programs evaluate a student’s knowledge, rather than using the standard idea of credit hours as a model for learning. Although similar models have been around for years, an important move was recently taken to open competency-based education to the greater public.