the fact that you're not allowed to default on student loans is one of the sickest things our society does to young people
This is specifically designed to create debt slaves for life, and it is 100% created by the government.
If they removed this law tomorrow, no lender in their right mind would ever lend you $100,000 to study liberal arts
We would probably have more doctors and engineers though
No need to default, it's being forgiven now.
I doubt we would have significantly more doctors and engineers. People are still redarded (me).
I remember going down this rabbit hole and it made me nauseous.
what do you mean by "not allowed"?
Even if you go bankrupt, you still have to pay back the loan. If you don't, it's garnished directly from your salary or seized from your bank account
Any other type of unsecured loan you can just not pay it and it just messes up your credit
Or your next of kin. Best death gift to loved ones!
Feeling philosophical today? :D
Coat of tuition would probably drop by 50% too.
Risk management is racist🙄
University degree prices need to fall to their utility cost again for this country to function again in that realm
Sounds about right. Ijjgghhm nv jlmmmmm .
The benefits for the lender wouldn't justify 100k to some 18 year old otherwise.
.. and a LOT more apprentices
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