Here's an idea floated by Rubio to address the situation.

 

From his book, here is his idea.

 

What if there were a way to give students the option of paying for their education without acquiring any student debt at all? What if investors assumed the risk that students and their families now bear alone in student loans? What if there were a way to finance your daughter’s or son’s higher education the way we finance start-up companies—by having others make the investment in their success?
 
There is a way and here is how it works. Let’s say you are a student who needs $10,000 to pay for your last year of school. Instead of going into debt for $10,000, you could apply for a “Student Investment Plan” from a private investment group. These investment groups would pay your $10,000 tuition in return for a predetermined percentage of your income for a set period of time after graduation—maybe 4 percent of your income a year for ten years. At the end of that period, if the amount paid is greater than the investment, the investors make a profit. If it’s less, they lose money. Either way, they assume the risk of paying for your education. Unlike with loans, you would be under no legal obligation to pay back that entire $10,000. Your only obligation would be to pay that 4 percent of your income per year for ten years, regardless of whether that ends up amounting to more or less than $10,000.
 
Is that reasonable?  I think it is.  Imagine potential employers and investment people paying for a college student's tuition, and in return they have the potential to either make money or lose money on their "investment".  This person would not get a "free" education, but it would give them the ability to get that education at a much lower price than student loans.  More importantly, taxes on us would not have to be raised in the least bit.
 
What many on the left I suspect will complain about is it favors those getting degrees in Economics, Engineering, etc. and "leaves out" those getting degrees in puppeteering or liberal arts.  Which path(s) of higher education lead to success?

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