3 ms·
You cannot repossess an education. Most loans are to buy something tangible that can be sold for at least something if the debtor defaults.
by steve19 11y ago
You cannot repossess an education. Most loans are to buy something tangible that can be sold for at least something if the debtor defaults.
- paulddraper 11y agoCollect on my credit cards. I dare you.
- dvanduzer 11y agoThis is a pretty basic financial distinction. A credit card is an unsecured loan. A car loan is a secured loan, with the car itself as the asset backing the loan. A college education is unlike all the other kinds of assets that individual humans tend to "own". The only thing they could meaningfully repossess is the sheepskin.