3 ms·
>>the combined assets of the entire class of student debtors is probably NEGATIVE Doesn't matter. As the saying goes: if you owe the bank $1,000, you have a pr
by enraged_camel 10y ago
>>the combined assets of the entire class of student debtors is probably NEGATIVE
Doesn't matter. As the saying goes: if you owe the bank $1,000, you have a problem. If you owe the bank $100,000,000, the bank has a problem.
Debtors as a group probably would have a great deal of collective bargaining power.
- obstinate 10y agoIf debtors could get organized and all stopped paying at once, it seems likely that Navient would run out of money before they got the spigot turned back on. The consequence of course would be that student loans would cease being made, or be made much less frequently. This would have effects, some good, some bad.
- tajen 10y agoUS has never had problems with putting 1% of their population in jail. If every student, even the children of billionaires, massively refuse to pay back as a group, the banks would be too happy to strike a deal with the children of billionaires in order to put the 99% others in jail.
- wanderer2323 10y ago"US has never had problems with putting 1% of their population in jail." {Citation needed}
- 55555 10y agoThis is a pretty interesting idea. I have never heard of debtors banding together to negotiate lower debts before.
- kazagistar 10y agoI'm not sure what you hope to get from it.