10-24-2011, 11:26 PM
Just like you say kj, you don't know the specifics. The default rate on student loans connected to regular, accredited institutions is around 5% overall as compared to 15% at the for-profit schools. Both groups' rates have risen in the last couple years as the economy has tanked.
As for whether the student loans should go away in bankruptcy, that I would rather leave to the courts. Instead of the blanket ban that was mostly instituted at the lobbying of the private lenders, I would rather see some priority set for the loans in the process. Let a court decide on the specific circumstances of each borrower's bankruptcy.
As for whether the student loans should go away in bankruptcy, that I would rather leave to the courts. Instead of the blanket ban that was mostly instituted at the lobbying of the private lenders, I would rather see some priority set for the loans in the process. Let a court decide on the specific circumstances of each borrower's bankruptcy.