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What I read and heard in the past few weeks about this hints at another solution. Instead of getting rid of student loans and college tuition fees, we need to i
by dna_polymerase 7y ago
What I read and heard in the past few weeks about this hints at another solution. Instead of getting rid of student loans and college tuition fees, we need to improve the situation for students and open the market for other players.
Apparently the Department of Education chooses the loan service for borrowers, thus enabling a de-facto monopoly for Navient [0]. Now, if we had a functioning market people could choose better solutions, and better standards would prevail. Also data could be made public enabling students to choose a college that showed better performance for graduates careers [1].
[0]: https://www.youtube.com/watch?v=RjWWTTMj0xw https://www.youtube.com/watch?v=RjWWTTMj0xw
[1]: https://www.theguardian.com/money/2017/sep/06/us-student-debt-loans-navient-sallie-mae https://www.theguardian.com/money/2017/sep/06/us-student-deb...
- vonmoltke 7y agoHow does the servicer affect this? They're just the intermediary for the DoE to get their money back.