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The argument for student debt not being dischargable is to stop lots of people declaring bankruptcy upon graduation. You can repossess a house or a car, but yo
by haihaibye 7y ago
The argument for student debt not being dischargable is to stop lots of people declaring bankruptcy upon graduation.
You can repossess a house or a car, but you can't repossess a degree.
If there was an option of cancelling a degree (either because of bankruptcy or user disatisfaction) this could perhaps work for vocational degrees or where the degree is 100% signalling.
If some kind of learning took place - how do you give that up?
- philwelch 7y agoThis would have the effect of drying up the credit market for completely unsecured 5-6 figure loans to teenagers. This is the intended effect.