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Yes, declare personal bankruptcy at 22 when you have nothing. What’s the downside? Maybe the government should get out of the loan business and we can go back
by melling 3y ago
Yes, declare personal bankruptcy at 22 when you have nothing.
What’s the downside?
Maybe the government should get out of the loan business and we can go back to complaining that people can’t afford college.
People will have to choose cheaper colleges.
- tw04 3y agoYou can’t get financing for 7 years, or if you can it’s at rates that will cost you more over your lifetime than just paying for school. It will also make financial institutions actually assign appropriate risk to the loans, and schools will be forced to correct tuition. Right now schools can charge whatever they want because the only associated risk to banks is death.
- ffgjgf1 3y agoAn income based repayment system (e.g. max 10-15% or something like that), low interest rates and a cap on max tuition wouldn’t be that terrible?