It’s a good question. One that is seemingly still baffling policy makers even at the highest levels of the United States government.

But it’s not for lack of effort.

Proposals have been floated, ideas have been shared and new laws have been passed to try and stem the foreclosure tide. We’ve seen everything from bank bailouts to loan modifications to grassroots prevention programs, but still the defaults continue. And it’s possible that it could get worse before it gets better.

So what else can/should be done to solve the foreclosure crisis?

We’re asking college students (and incoming freshmen) to answer that critical question in our recently-introduced Foreclosure.com Scholarship Program. It’s an essay contest (minimum 1,000 words, maximum 2,500) that rewards innovative and practical individuals with the most creative ideas in the form of scholarship money. The submission deadline is Dec. 31, 2009.

In addition to the cash prizes (5) in the form of scholarships, the best five plans will be sent to Congress and to President Barack Obama himself. Winning submissions will also be published on Foreclosure.com.

For complete details and submission requirements/instructions for the Foreclosure.com Scholarship Program click here. We look forward to reading what you have to say!