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No, the person was lent $30k for the OPPORTUNITY to study anything they wanted, to become anything they wanted. The person CHOSE to obtain skills no one wants
by bluedevil2k 7y ago
No, the person was lent $30k for the OPPORTUNITY to study anything they wanted, to become anything they wanted. The person CHOSE to obtain skills no one wants to pay for.
- lotsofpulp 7y agoMy point is that the lender also made a bad decision.
- ChrisLomont 7y agoWhat lenders require you to list the classes you plan to take?
- lotsofpulp 7y agoI didn’t claim any lender did, just that it’s a bad idea to lend tens and hundreds of thousands of dollars to young people with no collateral and only a loose requirement to use it on “education”. No lender is actually stupid enough to do this, other than the US taxpayer.
- malandrew 7y agoMany US taxpayers aren't this stupid. The problem is that they need to contend with the votes of people who may or may not file taxes but still vote.
- ChrisLomont 7y agoThe reason these loans can be made without collateral for the rates they are is the loans are not discharged easily. They’re still a benefit to both parties, because both gain from them on average. No one is stupid here. Stupidity would imply a net loss on one or both sides, which simply isn’t true.
- onion2k 7y agoThis is not a matter of people getting the wrong skills, or being bad at those skills, or anything to do with choices. If 200,000 kids go to university to get a particular degree and 4 years later enter a market recruiting 180,000 graduates with that degree then there's a problem, yet no individual made the wrong decision. The problem is about predicting the future job market, attrition rates at universities, and the over-supply of graduates as a whole. It's not simply people doing the wrong degrees. Putting all the blame on individuals for making bad choices shows a distinct problem of your understanding of the issue.