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How do you feel this contrasts with the Student Aid/Loan/FAFSA regime? I made the exact same argument as op the other day about higher education and I really th
by kombucha2 11y ago
How do you feel this contrasts with the Student Aid/Loan/FAFSA regime? I made the exact same argument as op the other day about higher education and I really thinks it fits much better in that context than it does when used with housing finance.
- hueving 11y agoStudent loans are awful because they entice students to take on massive amounts of debt that they will have a really hard time repaying. Taking on a mortgage eliminates your rent cost. Taking on a student loan eliminates nothing. Additionally, with student loans there is essentially no due diligence on the lender's behalf because the loans are not dischargeable in bankruptcy. So students are paying a hundred+ thousand dollars for a masters in art history that will have no return (other than intellectual). Compare that to a house, where a bank won't give you a loan if they don't agree that the house is worth that.