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I think it should be dependent on the credit of the students. And, yes, this is almost none. Furthermore, make the students able to declare bankruptcy to escap
by danielweber 13y ago
I think it should be dependent on the credit of the students. And, yes, this is almost none.
Furthermore, make the students able to declare bankruptcy to escape student debt.
The reaction from the schools would be to make sure their students don't end up more than (very roughly) $10,000 in debt.
- roc 13y agoIf they can discharge student debt on bankruptcy, wouldn't that just normalize the process of: 1. take on loans 2. go to college 3. declare bankruptcy 4. enter jobs market? Or are we counting employers continuing/extending their discrimination against candidates with 'bad credit' ? And would that hold up in a tighter jobs market?
- danielweber 13y agoIt would definitely limit the loan size. Someone with $50,000 in debt will default at the drop of a hat, and so they will never be extended $50,000 worth of debt, and so schools will need to charge less for their service. Someone with $4,000 worth of debt probably will not default, because the hit to their credit isn't worth it.