A real stupid idea

Reader comment on: Student Loan Bankruptcy Forgiveness

Submitted by Fast Eddie (United States), Jul 21, 2012 10:38

So, here's how it would probably work: Somebody who has a bottom-of-the-barrel SAT borrows $50,000 to get a degree in gender studies and somebody with a top SAT score borrows $50,000 to get a degree in computer science/engineering. Student A can't get a job paying more than minimum wage with his/her worthless degree and defaults on the loan, which is then forgiven in bankruptcy. And Student B, who has multiple job offers and lands a good job, must pay a much higher interest rate on his/her loan in order to make up for the losses in the loan system caused by the Student A's of the world. This sort of thing only makes sense to people who have no business being in college in the first place and encourages colleges to keep raising their tuition rates far beyond where they should be, depriving deserving students of the education that they need and we need them to get.

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Title By Date
⇒ A real stupid idea [157 words]Fast EddieJul 21, 2012 10:38
Private Student Loans should be dischargeable. [33 words]NewYorkerJul 20, 2012 19:04
Take it to the next level [66 words]BobAug 8, 2012 04:02
Being drained dry [24 words]PennyJul 20, 2012 18:24
It's a start [45 words]DanielJul 20, 2012 14:03
Take away bankruptcy for ALL or implement it for ALL [36 words]Joan FrisinaBowlesJul 20, 2012 13:04
hogwash [93 words]DorothyJul 20, 2012 11:21
It makse sense! [156 words]FelipeJul 20, 2012 11:09
Let's do it [10 words]ChristinaJul 20, 2012 10:29

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