10-24-2011, 10:30 PM
rjmacs wrote:
[quote=kj]
No, I didn't know that. But it still seems unwise to make it easier to default on the loans. Especially with the continuing proliferation of these fake schools. And it is still money that could be used more wisely. And couldn't one say that those who pay back their student loans are subsidizing this mess? kj.
Who is making it easier to default on the loans, again? Remember, these loans don't go away even if you file for bankruptcy...
It's always true that the people who pay back loans subsidize those who don't, no matter who the lender is or what sort of loan it is. That's just part of lending money. If you have a better solution to debt non-repayment, you have a future in finance!
Like I said, people in previous posts seem to be saying the loans should go away with bankruptcy. I'm not sure they should.
I would have to say I don't know the specifics, but I do know that a lot of these people will never pay their loans back, whether the loan "goes away" or not. The rest of what I said is dependent on the idea that it become easier to default. If it becomes easier, at the very least there will be less money to be used by people for legitimate education. So default is not a victimless outcome. Now, if you could take care of the scam, then forgive the debt, that might be acceptable, but right now it would just help the "schools", and those making the loans. kj.