Letter: Colleges should forgive loans

Several articles have been written about students unable to pay their loans ["Student-loan debt rises to record $904B," Business, June 1].

A simple Internet search reveals that the top 100 universities are sitting on more than $200 billion in endowments. Since our Congress is always talking about stimulus, imagine what parents could do with the money spent annually to send their children to college.

I call on colleges to forgive loans taken by students who graduate in four years with a 3.0 grade-point average. By my cocktail-napkin math, in two years, this would cost less than 10 percent of their massive endowments and jump-start our economy.

With all the talk of corporations sitting on their cash, why should these honorable institutions escape criticism?