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> The interest rate would be very very high, as it should be. The offered loan amount would be much lower, too. There would be nothing to distinguish a studen
by labcomputer 6y ago
> The interest rate would be very very high, as it should be.
The offered loan amount would be much lower, too.
There would be nothing to distinguish a student loan from any other unsecured personal loan (like a credit card), so the credit line would be similar. For an 18 year-old, that means the total amount over 4 years would certainly be less than $10k at an APR in the 20's to 30's.
- CamperBob2 6y agoThe offered loan amount would be much lower, too. Which is fine, because tuition, textbooks, and housing would be, too. This is a crystal-clear example of what happens when government subsidies distort a market.