3 ms·
Student loans that can’t be wiped out in a bankruptcy should not be a thing, in my opinion. Combine that with the loans being guaranteed by the government & yo
by devoutsalsa 5y ago
Student loans that can’t be wiped out in a bankruptcy should not be a thing, in my opinion. Combine that with the loans being guaranteed by the government & you get a system that is ripe for abuse by the people in power. There’s an incentive to create low quality, high margin degrees for profit. It’s horrible.
- mrep 5y agoThe problem with that is that no bank is going to give a kid with no assets $81,659 a year [0] that they can just wipe out instantly after college. Thus you'll likely create a two tier system of colleges. One will be low cost enough that declaring bankruptcy after college is not worth it. These will likely be crappy because they cannot afford good facilities or the best professors. Then you will have the super expensive ones with nice facilities and the best professors that only kids with rich parents who can pay for it can go. [0]: https://admission.usc.edu/learn/cost-financial-aid/ https://admission.usc.edu/learn/cost-financial-aid/