K1nsey6@lemmy.ml to Late Stage Capitalism@lemmy.world · 2 years agoBailoutslemmy.mlexternal-linkmessage-square55linkfedilinkarrow-up1800arrow-down111file-textcross-posted to: usa@lemmy.ml
arrow-up1789arrow-down1external-linkBailoutslemmy.mlK1nsey6@lemmy.ml to Late Stage Capitalism@lemmy.world · 2 years agomessage-square55linkfedilinkfile-textcross-posted to: usa@lemmy.ml
minus-squareChonkyOwlbear@lemmy.worldlinkfedilinkarrow-up1·2 years agoAnd if they were private loans, they would be different how?
minus-squareManmoth@lemmy.mlBannedlinkfedilinkarrow-up1·2 years 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-up1·2 years 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.