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Allowing people to default on student loans just makes education more expensive for everyone else. There's plenty of people who looked at their job prospects fo
by niij 8y ago
Allowing people to default on student loans just makes education more expensive for everyone else. There's plenty of people who looked at their job prospects for the degree before going to college and determined some degrees are bad investments. Why should the rest of us have to shoulder the cost of someone else's poor investment choices?
- rectang 8y agoWe're not talking about just walking away from the student loans, but declaring full-on bankruptcy. That has serious consequences.
- jfim 8y agoIt does have consequences, but declaring bankruptcy right after college is probably a good idea (on an individual level) right after college if one has sizeable debts and bankruptcy discharges the debts. College grads tend to have little assets under their names to seize and are several years away from needing to use their credit score to get a mortgage.
- RhysU 8y agoLoan issuers would simply require a cosigner with sizeable assets to seize. Tada! Now no one from a poor upbringing can be the first person in their family to attend college. You have created a permanent underclass.
- PopeDotNinja 8y ago> Why should the rest of us have to .. You don't have to do anything. But some things might in your best interests. It's on you to figure that out, or someone else will figure it out for you.
- smnrchrds 8y agoIt won't make tuition more expensive. It makes students loans more expensive and difficult to get, thereby making tuition cheaper.
- seiferteric 8y ago> Allowing people to default on student loans just makes education more expensive for everyone else. I don't think we really know that. Making these loans non dischargeable has large systemic effects I think that causes all sorts of other costs to increase. It would certainly make getting loans more difficult, but perhaps total cost of education would go down and make more scholarships available?
- thatcat 8y agoGuess they should have bought btc with those student loans, eh? /s
- niij 8y agoAnything is better than putting money into internet magic... except for a psychology degree :)