Student loans

Yes, it really does sound like the pre-crash mortgage market:

What kind of incentives motivate lenders to continue awarding six-figure sums to teenagers facing both the worst youth unemployment rate in decades and an increasingly competitive global workforce?

2 thoughts on “Student loans

  1. Soon, student loans will only be for the rich.
    (Me? I’m never going to pay back a dime of mine, blood from a stone, etc.)

  2. It’s considerably more dangerous than the mortgage crisis. Judgments caused by a defaulted mortgage are generally dischargeable in a chapter 7 bankruptcy provided you surrender the property. Student loans can’t be discharged in a bankruptcy.

    Given the current state of the GOP, I think we’re about 15 years away from debtor’s prisons returning.

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