Touche. Perhaps full deferment should be changed to paying back $200 / month even while enrolled. I know this is controversial. But at least then the students might feel the pinch and squeeze that the loans will have on them and it might also help them learn personal finance. If a student is unable to make the payments and go into default then they'll have to take a semester off and make some money (this would also prevent some from going much much deeper into debt). All around its a crappy situation. But most high school graduates probably think Caveat Emptor was some Roman ruler...