Total student loan debt in the U.S. is nearly a TRILLION dollars. But, sure, no big deal.
Total student loan debt in the U.S. is nearly a TRILLION dollars. But, sure, no big deal.
I believe that the easy availability of student loans are a major factor in the increase in the cost of college education. Plus unlike other loans you can not include a student loan in a bankruptcy filing and are guaranteed by the government lenders basically don't care who they lend to.
I think they found a bubble that can't pop (at least not for awhile) - people can default on standard loans and mortgages, discharge them in bankruptcies, but student loans you have to carry regardless of your situation for at least 20 (25?) years. There are retired folk having their SS garnished for student loans. And not just the students - cosigners, all the parent loans being taken out are on the hook as well.
And definitely, if people could not so easily enhance their resources with student loans to pay for classes, prices would drop.
There are currently 1 users browsing this thread. (0 members and 1 guests)