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The deception is the government guaranteeing these loans and then the students defaulting on them, which results in the taxpayers paying. Furthermore, the colle
by bloodyplonker22 4y ago
The deception is the government guaranteeing these loans and then the students defaulting on them, which results in the taxpayers paying. Furthermore, the colleges continuously raise prices because they know they will get the money, regardless, if the student defaults. This is why college is so expensive in America.
- gruez 4y ago>The deception is the government guaranteeing these loans and then the students defaulting on them, which results in the taxpayers paying Who got deceived here? If you were told that the government would be guaranteeing loans, then it follows that they're potentially on the hook if the loan goes bad. That's not something that's hidden, it's literally part of the definition of what guaranteeing loans mean. >Furthermore, the colleges continuously raise prices because they know they will get the money, regardless, if the student defaults. That sounds more like unintended consequences than deception.