3 ms·
But not the lenders? They didn't have anything to do with convincing people to take their loans? They have to be subsidized with favorable bankruptcy laws?
by rectang 9y ago
But not the lenders? They didn't have anything to do with convincing people to take their loans? They have to be subsidized with favorable bankruptcy laws?
- rayiner 9y agoMore than 90% of student loan debt is federal, either direct or through private lenders where the lending decision is made by the government. The “favorable bankruptcy laws” were adopted primarily to protect these loans, because they are issued, by law, at set interest rates and without regard to credit risk.
- rectang 9y ago> private lenders where the lending decision is made by the government. Yes, exactly. Them. Nice racket!