Billionaire Robert F. Smith made headlines last month when he surprised graduates of Morehouse College with the news he would pay off their student loans, saving them millions in life-altering debt. Smith was rightly applauded for his act of generosity.

But for the 45 million other Americans suffering from crushing student debt, relying on a rich savior is not an available solution to their financial troubles. For them, we need an answer that goes much further and addresses this crisis in a systematic way.