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If graduates had the option to discharge their student loan debt in bankruptcy in exchange for revoking their degree, I wonder how many would end up taking that
by thearn4 11y ago
If graduates had the option to discharge their student loan debt in bankruptcy in exchange for revoking their degree, I wonder how many would end up taking that option.
- nly 11y agoHow do you 'revoke' a degree?
- thearn4 11y agoThe scenario that I proposed was entirely hypothetical, but I image that they are revoked in the same way that any credential is revoked: if asked to verify that an individual holds it, indicate instead that they don't. I mean, this has happened a number of times to doctorate degree holders when it was later discovered that they falsified research for their dissertation.
- nly 11y agoYeah, but publishing a statement that announces that you're a cheat, and that your education is a sham, actually damages your reputation and your career. Cutting up some paper so you can be debt free would just show that you're not a complete nit. Even if you actually needed that paper to prove that you are in fact qualified, an entire industry would appear overnight dedicated to providing certified copies. The free market ultimately decides what credentials to trust.
- randyrand 11y agoYou'd need to drain them of their college memories too, somehow, for the hypothetical question of "was it worth it/can I give it back?" to have merit.
- autotune 11y agoYou steal the knowledge back of course. http://www.goodreads.com/book/show/20578712-chimpanzee http://www.goodreads.com/book/show/20578712-chimpanzee
- TheOneTrueKyle 11y agoSign me up!
- dredmorbius 11y agoNote that matriculation without graduation confers debt without degree. You pay for nothing. Higher-education attrition rates are considerable, often above 50%.
- whitegrape 11y agoOr if students had the option to discharge their debt in bankruptcy at all, how many would do it. I suspect enough that we'd have something resembling the last debt crisis on our hands, but depending on how that gets handled it might encourage lenders to be a bit more careful with who they lend to and how much they're willing to lend in the first place which may then encourage schools to lower costs.