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Would be better to make the debt dischargeable - it's a form of debt forgiveness that has skin in the game for college graduates, particularly those that didnt
by throw123123123 4y ago
Would be better to make the debt dischargeable - it's a form of debt forgiveness that has skin in the game for college graduates, particularly those that didnt do well at all.
- indecisive_user 4y agoAnd it has the side effect of forcing universities to consider the risks of loaning out hundreds of thousands of dollars for a degree that pays $50k on average. When students can no longer afford infinite loans, the price of these degrees will magically drop like a rock.
- throw123123123 4y agoIt must be understood that making them dischargeable would make student loans unfeasible - the lending rate to adjust for the risk would be so high that unless it were subsidized it would be impossible to pay. It would give the people a way out today - a few years of bad credit sure, but worth it if you are really underwater with them.
- TimPC 4y agoMaybe after a certain time period but what’s to stop people from declaring bankruptcy immediately after finishing a degree and before working. It’s hard to have a loan backed by no asset that’s dischargeable in bankruptcy and given to people with more debts than assets.
- throw123123123 4y agoThere has to be no federal student debt forward. If there is an admission that they dont work, stop doing them!