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  3. (1) Student loans are based on a simple idea: that a graduate’s future flow of earnings will more than cover the costs of doing

(1) Student loans are based on a simple idea: that a graduate’s future flow of earnings will more than cover the costs of doing

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问题     (1) Student loans are based on a simple idea: that a graduate’s future flow of earnings will more than cover the costs of doing a degree. But with unemployment rates in parts of the rich world at post-war highs, that may no longer hold true for many people. The consequences will be felt by everybody.
    (2) All over the world student indebtedness is causing problems—witness this month’s violent protests in Chile. In Britain, according to a recent parliamentary report, rising university fees mean that student debt is likely to treble to ￡70 billion by 2015. But, partly because higher education there is so expensive, the scale of the problem is far greater in America. When the next official estimates of outstanding student debt there are published, it is expected to be close to $1 trillion, higher than credit-card borrowing. Credit quality in other classes of consumer debt has been improving; delinquency rates on student loans are rising.
    (3) Many of the anti-Wall Street protesters push the idea of blanket debt forgiveness as a solution. But that is the wrong answer. Higher education is not a guarantee of employment, but it improves the odds immensely. Unemployment rates among university graduates stood at 4.4% on average across OECD countries in 2009. People who did not complete secondary school faced unemployment rates of 11.5%. Much of the debt that students are taking on is provided or guaranteed by the government. Imposing write-offs on all taxpayers to benefit those with the best job prospects is unfair; and ripping up contracts between borrowers and private lenders is usually a bad idea.
    (4) That said, student-loan systems in America and elsewhere are often badly designed for an extended period of high unemployment. In contrast to the housing crash, the risk from student debt is not of a sudden explosion in losses but of gradual financial suffocation. The pressure needs to be eased.
    (5) One option is to change the bankruptcy laws. In America, Britain and elsewhere, these treat student debt as a special case: unlike other forms of debt, it cannot be wiped out. If student debt is not to bound existing graduates and put off future ones, the rules could be changed so that it is dischargeable in bankruptcy. Yet the reasoning behind the current bankruptcy provisions is logical enough; education is an asset that cannot be repossessed and that keeps on benefiting the individual through his or her lifetime. Some worry that graduates would rush to declare bankruptcy, handing losses to taxpayers.
    (6) So a second option is preferable. Many countries, America included, have designed student debt primarily as a mortgage-like obligation: it is repaid to a fixed schedule. Other places, like Britain and Australia, make student-loan repayments contingent (依情况而定) on reaching an income threshold so that the prospect of taking on debt is more acceptable to people from poorer backgrounds. That approach makes sense, especially when jobs are scarce. Barack Obama this week proposed to limit loan payments for some struggling American graduates to 10% of discretionary (任意的) income and forgive outstanding debt after 20 years. Income-based repayment ought to become the norm.
    (7) Both changes would lead to a repricing of student debt. That would be a bad thing for taxpayers, but a good thing overall. If such information were made public, other useful data would follow—on the average financial returns to graduates of specific subjects, for example. Those studying less profitable subjects would have to pay more, or be subsidized more. It would be a controversial approach, but a more educated one.
We can learn from the first two paragraphs that ______.
选项 A、high unemployment rates make it hard for students to get loans
B、rising university fees is a valid way to balance student loans
C、student indebtedness has become an increasingly tricky issue
D、credit quality including student debts has been improved
答案C
解析 根据文章第一段的内容可知，自二战以来，失业率屡创新高，助学贷款引发的学生债务问题日益严峻，每个人都会感受到它带来的严重后果；第二段具体陈述了各个国家学生的助学贷款问题，由此可知，C项“学生债务已成为一个日益棘手的问题”为正确答案。第一段第二句提到失业率自二战以来创下新高，但并没有说学生因此难以申请到贷款，故排除A项；第二段提到，在英国，高涨的学费意味着学生债务有可能到2015年增至700亿英镑，由此可知，涨学费不能解决学生的债务问题，故排除B项；根据第二段最后一句可知，其他类别的消费者债务的信用质量一直在提高，而学生贷款的拖欠率却在不断攀升，D项陈述错误，故排除。
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