> But if you take a loan, you've entered a contract. Breaking that contract isn't something to be proud of. From the individual's end, there's a great amount o

> But if you take a loan, you've entered a contract. Breaking that contract isn't something to be proud of. From the individual's end, there's a great amount of morality associated with paying back (or not paying back a loan). From the lender's end, the probability that you will pay back your loan, and the resulting rate of return a lender would expect, is all something carefully calculated. From the individual's end, a failure to pay a loan appears to be a moral failing, as if you didn't keep your promise. From the lender's end, you're part of a larger calculus and thus already predicted and accounted for; morality doesn't even enter into it. Let's not let morality on the individual's end become part of a financial strategy on the lender's end.