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And one of the most magical things about US higher ed is that it just swallowed 400,000 loans funded by taxpayers without as much as a burp.
by KKKKkkkk1 11y ago
And one of the most magical things about US higher ed is that it just swallowed 400,000 loans funded by taxpayers without as much as a burp.
- hiram112 11y agoSpot on. It's becoming increasingly clear that the student debt bubble will blow up, no differently than the housing bubble. And just like the housing bubble, the clever ones are going to end up getting Uncle Sugar to pay off their loans, while a large majority will end up 'doing the right thing' to their own disadvantage. Of course, the big banks and financial entities that own these loans will come out just fine. Then we can move on to the next staple to financialize, perhaps unborn generations since there's not much left.
- specialist 11y agoHigher ed already got their money. The banks got stuffed.