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It shouldn't be a question of the median student. If it's worth it in aggregate, the loan company should have at least as much liability as the student does for
by lukeschlather 11y ago
It shouldn't be a question of the median student. If it's worth it in aggregate, the loan company should have at least as much liability as the student does for loans that don't pay off. The loan company is the one that has the resources to manage risk, the student has no resources.
The problem right now is that all of the liability sits on the student, and the loan company actually stands to make more money off "bad" loans than "good" ones because of interest and deferred payments. The incentives for the loan companies are totally backwards.
- taurath 11y agoSo then they simply start pulling the stats over which demographic group does worse after going to a big school. I'll bet you on average its the lower income people. The perspective from an eastern european friend of mine: "everything in the US is a business, and every business has a thousand middlemen making money". Education should be a service provided by the government of the people, so that accountability is the responsibility of the people.