K1nsey6@lemmy.ml to Late Stage Capitalism@lemmy.world · 1 month agoBailoutslemmy.mlexternal-linkmessage-square83fedilinkarrow-up1997file-textcross-posted to: usa@lemmy.ml
arrow-up1997external-linkBailoutslemmy.mlK1nsey6@lemmy.ml to Late Stage Capitalism@lemmy.world · 1 month agomessage-square83fedilinkfile-textcross-posted to: usa@lemmy.ml
minus-squareChonkyOwlbear@lemmy.worldlinkfedilinkarrow-up1·29 days agoAnd if they were private loans, they would be different how?
minus-squareManmoth@lemmy.mllinkfedilinkarrow-up1·edit-229 days agoMore often than not the loans wouldn’t be granted because there wouldn’t be any collateral and the student could simply declare bankruptcy and get rid of the debt. College would have to be cheaper so people could actually afford it.
minus-squareChonkyOwlbear@lemmy.worldlinkfedilinkarrow-up1·edit-229 days agoExcept student loans, public or private, cannot be discharged by bankruptcy specifically so people can’t do what you suggest.
And if they were private loans, they would be different how?
More often than not the loans wouldn’t be granted because there wouldn’t be any collateral and the student could simply declare bankruptcy and get rid of the debt. College would have to be cheaper so people could actually afford it.
Except student loans, public or private, cannot be discharged by bankruptcy specifically so people can’t do what you suggest.