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Student loans will be 15% interest if they're dischargeable. Practically every 22 year old will graduate with $50k in debt, declare bankruptcy for a free $50k,
by throwaway_4ever 4y ago
Student loans will be 15% interest if they're dischargeable. Practically every 22 year old will graduate with $50k in debt, declare bankruptcy for a free $50k, and then in 7 years will be off the record and be able to buy the cars and house they want.
- Brian_K_White 4y agoGood. The school should have been paid for by taxes anyway in the first place.
- AlexandrB 4y agoIf banks no longer want to offer huge student loans because of the risk, universities will have to lower their tuition or their classrooms will sit empty. This seems like a problem that will solve itself in a few years.
- mrep 4y agoEh, there's easily enough rich parents to co-sign/pay their kids loans to fill the top 50 schools and I doubt any of the top schools would cut costs and risk lowering their perspective ranking so you'd effectively screw kids with poor parents from being able to go to the top schools.
- edmcnulty101 4y agoI have a feeling tuition would drop dramatically if you remove all this easy government gravy train funding as universities trim the abundant administrative and useless degree fat. So even at 15% interest it would still be cheaper to go to university. either the government needs to fund the university or the universities need to be subject to the laws of supply and demand like the rest of the world. None of this half-ass naieve young enslaving kids in debt forever in order to hire an 10 questionable administrators and a degree program in scuba diving.