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Notwithstanding entirely valid concerns about student loans, this is pure clickbait. The feds also own 30% of the nation's land (640M acres), and have the exclu
by evanpw 9y ago
Notwithstanding entirely valid concerns about student loans, this is pure clickbait. The feds also own 30% of the nation's land (640M acres), and have the exclusive right to collect $3T+ per year in taxes (not to mention they can literally print dollars).
- fixermark 9y agoWhat is the impact to the American economy when the Federal government has to write down the value of over half its assets as the average lendee dies without paying?
- hidenotslide 9y agoNothing? That person was also collecting social security and medicare if they were old enough.
- koolba 9y agoAnd if they weren’t they don’t have to account for that unfunded mandate.
- prostoalex 9y agoAFAIK land is not used for collateral to estimate credit worthiness. Taxes are, but it's understood that the figure is ballpark and subject to economic fluctuations. A portfolio of loans, however, can impact the credit worthiness of the borrower if the default rate exceeds historic expectations, which is what US experienced in 2008 with mortgage-backed loans.