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It's the opposite. If people can default, then the bank has to avoid defaulters, staying away from financing expensive studies in dead end careers. Otherwise t
by user5994461 8y ago
It's the opposite. If people can default, then the bank has to avoid defaulters, staying away from financing expensive studies in dead end careers.
Otherwise the bank needs to get more defaulter, because they are more profitable than people who pay back.
- stephengillie 8y agoImagine a student having to provide grades and a course plan to their bank, and a loan officer has to sign off on this. Not unlike buying a house.
- user5994461 8y agoI can't imagine a student not having to provide his university name and major. Lend 20k per year to study the history of arts, what could go wrong?