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Check your facts, most student loan debt hasn't been dischargeable since the 1970s. The 2005 change allowed for-profit banks to get in on the game.
by mobilefriendly 9y ago
Check your facts, most student loan debt hasn't been dischargeable since the 1970s. The 2005 change allowed for-profit banks to get in on the game.
- acdha 9y agoStudent loan debt now is also far more common and larger as a percentage of expected income than it was back in the 70s. The University of California didn't start charging residents tuition at all until the mid-1970s and didn't really ramp up until Governor Reagan slashed the budget: http://www.dailycal.org/2014/12/22/history-uc-tuition-since-1868/ http://www.dailycal.org/2014/12/22/history-uc-tuition-since-... If random internet sites are to be believed, the $630 combined tuition plus fees in 1976 is roughly $2k today. An awful lot of students could manage that without aid.