If its a scam, some things we could do: 1. Raid college endowments to pay down student debt 2. Allow bankruptcy for student debt 3. Allow refinancing at generous rates for student debt Things we should never do: When party A loans party B, demand that party C pay it.
one reason forgiving student loans makes more sense to people than forgiving mortgages is property holds value. implicitly, the argument here is college degrees really don't. in a sense, students are the victim of a scam. the question we don't often ask: who is the perpetrator?
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Its quite nutty how much people whined about a "bank bailout" in 2008 that a loan to the banks, which they repaid. If you fault banks or schools *at all* in the student loan crisis, then it's unhinged to mug the public to gift those parties money.
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lots of higher ed institutions mislead their incoming students on the success of their graduates
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It doesn't help the some people choose degrees that will be worthless after college.
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No one put a gun to a student's head to sign for a loan, just like no one put a gun to home-owner's head to sign for a mortgage. The issue is the federal government in both instances, guaranteeing the loans. This means tuition aren't capped and banks will entertain low credit.
Kiitos. Käytämme tätä aikajanasi parantamiseen. KumoaKumoa
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Much like with the Great Recession, there is no single perpetrator. Any attempt to find one, so that the story becomes a simple morality play, will only obscure the reality of the situation.
Kiitos. Käytämme tätä aikajanasi parantamiseen. KumoaKumoa
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Why in the world would we rely on the federal government to fix a problem it is complicit in creating? Colleges should have to suck up the student loans, and the federal gov't shouldn't back them any more. Banks should have restrictions/caps on mortgages it can issue.
Kiitos. Käytämme tätä aikajanasi parantamiseen. KumoaKumoa
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Serious question - have you even looked at the earnings effects of a college degree?
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Kiitos. Käytämme tätä aikajanasi parantamiseen. KumoaKumoa
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