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> Has there been any attempt to orchestrate an income based repayment program? This wouldnt prevent students from going after useless degrees like they do tod
by ProAm 10y ago
> Has there been any attempt to orchestrate an income based repayment program?
This wouldnt prevent students from going after useless degrees like they do today.
> 2. The burden of "payment" is shifted from the student to the school, as the school now must make sure their students are capable of getting good jobs if they want to be paid themselves.
It's usually not the schools loaning the money, they don't care what you do as long as you pay tuition, its banks and the federal government that loan the money, and they don't care because interest keeps accruing on your loan and you cant get rid of it.
- alistairSH 10y agothey don't care because interest keeps accruing on your loan and you cant get rid of it. I often wonder if the easy answer is to make student-loan debt dischargeable on bankruptcy. Yes, some banks would stop making the loans. But, would they all? I have to assume there would still be a market for student loans.
- pmiller2 10y agoRates would need to skyrocket to compensate.
- aianus 10y agoRealistically the middle class would have their parents co-sign and poor people just wouldn't be able to go to school anymore. Not a great idea.
- thmsths 10y agoThis is basically the french system, the bank does not even look at your credit history/revenue stream if your parents makes a decent amount of money and cosign, however getting a loan without a cosigner is almost impossible.