dresden doll wrote:Also, I think it's unfair to claim that there's zero incentive for the student to keep the debt down without the cap. I don't know any person, PI-oriented or not, who didn't strongly prefer going into LS on scholarships over attending to the tune of 200k+. Most people worry about changing their minds about PI and potentially wanting out before 10 years are up (god knows that once you start, you can't get out even if you decide it's not for you without suffering heavy financial repercussions). And I won't even get into the stress of worrying about losing your job 5-6 years down the road after your debt has grown into a massive monster but you're not yet there as far as applying for forgiveness. Going in on a scholarship/having the money to immediately repay the debt is ALWAYS the superior choice, and I suspect that the number of people on whom that insight is lost are few in number.
That's probably the biggest reason I'd support the cap: it would force schools to give out more money on the front end, in actual scholarships, as opposed to being able to pass the buck because "you'll have it forgiven anyway."
In support of this I'd like to point out I was/am PI interested and I took as little debt as possible.