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If 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
by roc 13y ago
If 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.