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Correlation isn’t causation, but the dramatic rise in college costs began when student loans became easy to get.
by larrywright 6y ago
Correlation isn’t causation, but the dramatic rise in college costs began when student loans became easy to get.
- x86_64Ubuntu 6y agoThey became easy to get because lenders knew their loans were non-dischargeable. That completely changes the risk equation and to act like it doesn't is an exercise in bad-faith.
- vonmoltke 6y agoFederal student loans have been non-dischargeable since the 90s, and this problem has been building since then. Federal student loans also make up over 90% of student loan debt, and since 2010 have been issued solely by the Department of Education. Also, not all private loans are non-dischargeable. No-dischargeable private loans are such a small portion of the problem that they are effectively irrelevant.