According to the Telegraph, almost eight in ten graduates in the UK will never pay back their full student loan under the new tuition fees system. The Institute of Fiscal Studies (IFS) has warned that there are “major issues” with the current system, as its research showed that most graduates will still be paying off student loans into their 50s.
I believe parents should pay for their child’s college education if they can afford it. In China, parents keep their hard-earned money to spend on their children's education. It’s incomprehensible to just kick out a child after high school and throw them into a world without support. Parents pay for their children's college tution so that they can focus in their studies with no worries about making money.