For-profit universities in the United States have to abide by the 90/10 rule: only 90% of tuition $ can come from federal student loans, the other 10% have to come from other sources. Want to rock the education space and drive tuition down? Make it an 80/20 rule. Or 75/25 rule.
I'm increasingly taking an outside view on debt, one that finds the entire idea of a 20+ year debt obligation *on something you cannot even insure* not just irresponsible, but frankly repulsive. Once you start looking, you find *so much* normalized madness
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Examples outside of education? Houses, cars, consumer credit can all be horrible but at least mostly insurable (Tho I agree 100% about normalized madness around consumer spending generally)
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Housing is similar. Once you think about it enough, it's farcical.
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Insurable.
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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interesting that you place an emphasis on *something you cannot even insure*. if you compare that to a house & a 30-year mortgage, if your house burns down, but you have homeowner's insurance, your homeowner's insurance will pay for the mortgage.
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if you college education doesn't get you a job, you can't take out education insurance to pay that'll pay off your student loans. the difference in these two scenarios is the heart of what makes student loans *normalized madness*
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