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And if guarantees for the loan companies are removed and the inability to free yourself from it in bankruptcy. Then why would the loan companies do student loa
by DrScump 10y ago
And if guarantees for the loan companies are removed and the inability to free yourself from it in bankruptcy.
Then why would the loan companies do student loans at all except at exorbitant rates (thereby making the responsible students pay more for those who aren't excluded altogether)?
- dkrich 10y agoThey wouldn't. That's the point. You shouldn't be able to borrow $150k+ without some collateral or a 20% down payment. I believe that if this happened, you'd see tuition rates plummet. But it won't until some catastrophic economic event occurs because the student loan industry is predatory and corrupt. Essentially ruining people's lives by selling them a lie in the name of "investing in your future."