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follow tovarichpeter 2018 Jul 10, 8:17am
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You can’t have Capitalism without the ability to discharge debt via bankruptcy
tovarichpeter saysYou can’t have Capitalism without the ability to discharge debt via bankruptcyThey were back in the mid to late 70's. Then the early co-hort of the Baby Boom generation jumped on the bandwagon of getting their degree, then immediately declaring bankruptcy. I can remember watching a TV news story back then while a long haired hippie type and his GF smirked at the camera and said sure we got our degree, then discharged the debt in bankruptcy. It didn't take long for the creditors to get wise to that generation.
banks will end up requiring the loans be secured with an asset or a co-signer, who will end up being on the hook.
You can disallow bankruptcy for a period of time (10 years maybe)
This is a very easy fix via middle ground. You can disallow bankruptcy for a period of time (10 years maybe). Most people want to buy a home at that point.
kind of clueless about how much any given degree is actually worth
A lot of students are unaware of these basic facts.
At many colleges, they are deliberately misled to fill the seats.
their proposed degree is worth in future earnings potential. Loans which the bank knows are a bad deal should be harder to get.
Easy access to student loads is the main factor driving up college costs
A degree in gender studies is worth nothing at all. A lot of students are unaware of these basic facts.