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> Where is the collateral? You buy a house, don't pay... you lose the house. And what happens when the bubble bursts and the house is now worth 200k less than
by dikdik 10y ago
> Where is the collateral? You buy a house, don't pay... you lose the house.
And what happens when the bubble bursts and the house is now worth 200k less than what it was originally purchased for? The bank writes it off.
So I propose we give everyone a paperclip with their degree and then if they file for bankruptcy they can give the paperclip, which depreciated 50-100k, back to the bank. It works for boomers so I think it'll work for millennials.
...I'm only half kidding with this comment.
- ccostes 10y agoHow about giving back the diploma itself?
- stale2002 10y agoNobody actually cares about the piece of paper. If you are an employer are you going to call up to university just to make sure that the student has paid their students loans? No, whether or not they've paid their loans has zero to do with their qualifications, or your reasons for hiring you.