Here's how they do student loans in the UK

[1932]

The government runs it, so there's no profit for banks built into the system.

You take out a loan to pay for your education.

You only pay it back if you make above the median income.

You can only pay up to 10% of your income.

You have your whole life to pay it back.

If you never pay it back, that's OK.

The burden is on the government and society to provide an economy in which a college degree at least earns you above the median income.

This was something the Labor government instituted recently.

The US needs something like this.