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Student loans were much much smaller in the era you refer to (before 1976 when the law was changed). Behavior would be much different today with the much larger
by harryh 8y ago
Student loans were much much smaller in the era you refer to (before 1976 when the law was changed). Behavior would be much different today with the much larger debts people take on.
- daniel-cussen 8y agoTuition was much much smaller in that era too.
- harryh 8y agoIf the point you are trying to make is: 1) loans should be dischargeable via bankruptcy so that 2) lenders refuse to make such large loans so that 3) tuitions are forced down Then I think that's a perfectly fine point of view (as I already said above). It's just important to be clear about it and not simply say that loans should be dischargeable with the expectation that everything else will stay more-or-less the same. Making this change would have an enormous impact on how higher education in the US functions.
- dsfyu404ed 8y agoBecause it wasn't being inflated by billions of dollars of non-dischargable loans.
- deleted 8y ago[deleted]