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Kefka, allowing bankruptcy on school loans is unfortunately impractical when doctors have the ability to abscond with hundreds of thousands of dollars and a car
by nostrebored 9y ago
Kefka, allowing bankruptcy on school loans is unfortunately impractical when doctors have the ability to abscond with hundreds of thousands of dollars and a career which well net them millions.
That is not a market correction either. In practice if we took away the student loans entirely, we would see a much more reasonable school pricing. Their audience is captive because they know that they can extract an extra $10k/yr from federal assistance alone.
- kefka 9y agoAh, the doctor excuse. If I remember correctly, lawyers were the other reason to consider bankruptcy as the way we do criminals. Those 2 areas where people were declaring bankruptcy are licensed professions. Simply put it would be easy to put a licensure check to say (If Bankruptcy is granted for bills related to school for license, it is rescinded until paid determined by judge.) But anyways, the rates of bankruptcy were minuscule for everyone. But no matter, fuck us all over. Where does the school have to have skin in the game, when they push substandard college or lie about graduation and placement? Removing bankruptcy protectionism would greatly help the market correct. Because that's all this law does. And we all see how it affexta scholastic higher ed spending.