> Don’t make huge purchases with loans unless you fully understand all the terms. I mean, yes, but they were also under the impression the 20 was forgiven ove

> Don’t make huge purchases with loans unless you fully understand all the terms. I mean, yes, but they were also under the impression the 20 was forgiven over a decade ago. The debtor definitely should know what they're signing up for. That said, if I loan an economically distressed person some money, I myself shouldn't (wouldn't) be surprised when they fail to pay it back. The creditors in this case were international institutions with entire risk departments, all staffed with nominally intelligent people and definitely more context than any individual debtor could ever have. While I'm miffed at people taking out loans they cannot afford will raise the cost of any investments I'd like to make in the same market, I'm much more miffed at those 'market makers' who set policy on the interest rates (so, risk) and lending qualifications for allowing this situation to exist in the first place.