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When college costs are reasonable, kneecapping your credit for 7 years right as you're entering the workforce is a big headache. But preventing people from dis
by delecti 4y ago
When college costs are reasonable, kneecapping your credit for 7 years right as you're entering the workforce is a big headache.
But preventing people from discharging student loans in bankruptcy means that there was no pressure to keep college costs low, because there's no reason to be cautious with giving enough loans to cover exorbitant costs.
- thathndude 4y agoWell, that’s a really great point. I’m not trying to hijack this post with analysis about student loans. But you’re totally right. We are increasingly looking to relief from student loans, precisely because they have gotten so out of control. And part of the reason they have gotten so out of control is because they had bankruptcy protection, so they were given to anyone and everyone without fear of bankruptcy. And when you flood a system with money, as we’ve learned in the past 24 months, prices go up. So now people need to take out more loans, which are readily available because they can’t be discharged in bankruptcy, and the glorious cycle continues.