4 ms·

That would be a great idea. Universities won't do this unless they're legally required to. Student ignorance drives their business model.

• brianwawok 10y ago
  Of course, but I had to sign stuff like this to get a mortgage. A bunch of mandated forms about worst case payments. Seems an easy law to help reform loans.
  • Kluny 10y ago
    It's easy and it should be done, but I don't think it will be that effective. Mortgages come with other rules. If you can't come up with 20% down, you pay mortgage insurance. If you have limited ability to pay it off, you don't qualify for as much cash. If you have a bad credit history, you pay higher interest. All these things are meant to keep mortgage debt from getting out of control. No such rules exist for student loans.
• eli_gottlieb 10y ago
  They're universities. They don't have a business model. They're not businesses. Their job is to teach and to research, not to make a profit.
  • scarface74 10y ago
    That's not true. There are a lot of private universities and so called "non profit" universities where a lot of people are making money. Even public universities will do what it takes to stay open - including denying state residents admissions in favor of foreigners who pay full price.
    • eli_gottlieb 10y ago
      Yes, state funding cuts have severely messed-up universities' ability to act according to their chartered purpose. That doesn't mean the charter isn't there.