Director, Commonwealth Policy Center

More than two out of every three college students take out student loans to pay for school. And the average college graduate has $29,800 in debt. Altogether, about 45 million Americans owe over $1.56 trillion in student loan debt. That's trillion with a "T."  A college education is important and it's worth investing in but getting into such debt is ill-advised. Too many students get degrees in areas where there is little demand. And some who find jobs in their field find they pay much less than expected. Why not apply truth in lending laws to university's? In other words, before a student takes out a loan, why not require the school to tell students about job placement rates, what kind of pay they can expect upon graduation and how long it will take to pay off their debt.