A good idea but why not attack the root cause of the college loan issue.
Not to mention many students should choose trade or other schools rather than college, 2 yr community college is an inexpensive start, going to college at night after work, almost free, benefiting from an employer paid tuition reimbursement program ( I did that for my grad school work for 3 yrs). It's a long day but worth the effort!
Once upon a time students were able to pay for college through a combination of working while attending college, summer jobs, financial aid programs, getting jobs during or after graduating that had employee tuition reimbursement programs that paid for undergrad and grad work.
Back in the day both Mrs Buffett and I paid for our undergrad plus graduate school work this way with minimal college debt ( like hardly any).
At that time college tuition was reasonable and affordable!
Not today!
All Universities even state schools have become cost plus entities, similar to the government.
Public Universities should be run like private sector entities and they're not!
They don't focus on efficiency, programs like Operations Excellence, reducing costs/headcount/combining jobs when possible, productivity standards for administrative staff, controlling the number and type of academic programs offered, housing doesn't have to be luxury living ( although the Towers are very efficient & economical), max retirement age for professors and other employees, compensation plans with ranges where employees max out if they don't move up, pay ins for healthcare programs, move away from burdensome union cost, work rules and benefit plans, developing sports programs ( football & basketball) which pay for the entire athletic department, you could go on and on.
Additionally some students have a tendency to select majors ( to many majors) with limited employment opportunities, and future earning capacity which makes it impossible for them to payback the huge student loans racked up due to overpaying for college.
With this said it's a good idea.
Combined with cost control measures to reduce tuition this becomes even a better idea!
"it's five o'clock somewhere"
Signed: Mr Buffett
Go PITT & CSU Rams!