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In Malaysia, those who default on their student loan are barred from traveling overseas. Since it's taxpayer's money, people are not happy when you are free to
by wiradikusuma 8y ago
In Malaysia, those who default on their student loan are barred from traveling overseas. Since it's taxpayer's money, people are not happy when you are free to travel overseas without settling your responsibility. At least that's the impression from asking around (I'm not local).
"Can't find a job" won't fly here, as you can literally get burger-flipping jobs easily—you can't walk to a mall without seeing dozens of "Admin/sales/waiter staff needed". Also, most uni graduates have a family (rent-free stay).
What makes US different? Student loans not from taxpayers money? Low-paying jobs impossible to get? Parents don't let their kids stay until they can afford their own place?
In Indonesia, the govt doesn't even have money to give loans to students.
- rectang 8y ago> What makes US different? Regulatory capture by the financial industry. The US government has facilitated a system whereby as many students as possible are funneled into taking predatory loans.
- zamalek 8y agoIt's the cost. Tertiary education in America is unrealistically expensive, so you're locked into higher payments for longer (typically life). Even if a lower paying job is enough to pay up, your entire life purpose becomes paying off a student loan. Without the college and loan you would have had a shitty job but $300 more, nothing else would be different. In South Africa the banks finance students, so the government doesnt hand out loans there either. You can pay off a typical degree in less than a decade. That system is completely unlike what Americans experience.