4 ms·

It's not costing tax payers, it's shrinking future gains on interest payments.

• TazeTSchnitzel 11y ago
  If the cost of defaults overtakes interest gains then yes, it is costing taxpayers.
  • scotty79 11y ago
    So the worst case scenario is that somebody gets (part of?) their education for free and the government pays the school its exorbitant rate. Maybe that's a good thing. Maybe it will force "taxpayers" to investigate why school had such exorbitant rate in the first place. Maybe there is some restitution to be paid to taxpayers by the school and if they are not paid maybe the school should be excluded from getting taxpayer money in the future.