Currently the biggest challenge facing college students is the rapidly increasing student loan debt. The size of this debt is higher than any other debt in the nation. This financial hole becomes crippling because instead of buying a car or house, students are forced to pay high amounts of money to receive the education needed to be competitive in today's job market. Students are then unable to contribute fully to the economy because instead of traveling or spending money on services, students are paying off their debts. The students that do not pay back their debt taint their credit and fall into a financial disaster. The people that go into debt must take any job they find in order to pay their debts back. This creates a problem in which highly educated people are working in jobs that typically require a low education. In order to keep many University of New Mexico students from going into debt, tuition should be free for any family making under 125,000 a year. The University of New Mexico can adopt practices already seen at Stanford University. The university will provide financial assistance to parents with an annual income of $125,000 or less. In addition, the University of New Mexico will provide free room and board, as well as free tuition, for those making less than $65,000, By helping those looking to go to college in the near future, and those already in college, the biggest challenge facing college students can be solved. Implementing these programs will be the best way to ensure a better future for today college students at the University of New Mexico.