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They aren't a bank. Banks get paid in interest for the risk they take in making the loan. Student Loans have no risk because you can't discharge them. But they
by downrightmike 10mo ago
They aren't a bank. Banks get paid in interest for the risk they take in making the loan. Student Loans have no risk because you can't discharge them. But they carry high interest rates.
Schools made bad predatory loans. Schools colluded with other schools to raise tuition. And schools made loans to any warm body they could to get them in the door. They did discount some tuition, but that was only enough to justify it as charity and not have to pay taxes. Its all a fraudulent scam.
- Jtsummers 10mo ago[flagged]
- tomhow 10mo ago> This is one of the least thought out ideas I've seen on HN in a while, > So you're an idiot This is not acceptable on HN, no matter how right you are or feel you are. The guidelines make it clear we're here for curious conversation, not fulmination and personal attacks. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html