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Also, one doesn't have to approve loans for the full education. Approve loans per semester. If major changes the creditor could choose not to extend anymore deb
by jrs235 10y ago
Also, one doesn't have to approve loans for the full education. Approve loans per semester. If major changes the creditor could choose not to extend anymore debt. Likewise, creditors could require transcripts as part of qualifying for loans beyond the first semester. A students grades would have weight in whether to continue extending credit (granted some [particularly for-profit] schools might cheat and inflate grades but accreditation of schools would also be factored in loan approval... much like banks rely on home appraisers for mortgages).
- melling 10y agoSo you're incorrectly implying that people aren't successfully graduating? The problem is that people are graduating with huge debt and can't get jobs that pay well enough to pay off their debt.
- morgante 10y agoDid you read the article? A large number of the people who default on their debt never graduated.
- jrs235 10y agoRather than assuming and saying "did you read the article?" Perhaps rephrase your point to be: "According to the article..." or "The article says..." I normally would down vote a comment that starts with DYRTA. I haven't this time, I wanted to use the opportunity to express how I think we can maintain HNs civility. Thank you.
- melling 10y agoYou're right. The majority owe less than $10,000. "Federal figures show most people in default on student debt owe relatively little—under $10,000—because they dropped out of school"