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>No bank is going to give money for degrees without a realistic change of getting paid back. Then they shouldn't. A big part of the problem is that the negativ
by hackinthebochs 10y ago
>No bank is going to give money for degrees without a realistic change of getting paid back.
Then they shouldn't. A big part of the problem is that the negative externalities of loans are all but eliminated from the issuer and completely placed on the borrower, only that these borrowers almost always unaware or don't fully appreciate the risk. If we allowed student loans to be shed through bankruptcy then companies would stop giving out $100k loans for art degrees and history degrees. This is the sort of risk/reward calculation that most incoming students aren't equipped to make, but actuaries are great at. Why don't we let them?
- candiodari 10y ago> If we allowed student loans to be shed through bankruptcy then companies would stop giving out $100k loans for art degrees and history degrees. > Why don't we let them? You've answered your own question, no ? Or at least pointed out one big center of opposition. Additionally, universities themselves will vehemently oppose this of course.