Should States Help Banks Forgive Student Loan Debt?

Iowa is ranked first in the country in terms of student loan debt. Some are urging more state aid and incentives to companies for debt forgiveness:

Escalating student debt and college affordability are top regents concerns.

The recommendations are a good start, but Iowa's No. 1 national ranking for average indebtedness likely won't change quickly, UI Financial Aid Director Mark Warner said.

"I would envision debt will not grow at the rate that it has grown, and that is extremely important," he said. "What people have to understand is it's not going to turn around in a year or two."

Iowa's ranking includes debt incurred by students at public universities and private colleges. Among 2007 graduates with debt, the average was $31,501 at ISU, $22,541 at UNI and $22,181 at the UI. The national average at public universities was $18,482.

Source: The Gazette