K1nsey6 to Late Stage Capitalism@lemmy.world · 2 months agoBailoutsimagemessage-square81fedilinkarrow-up1965arrow-down113file-textcross-posted to: usa
arrow-up1952arrow-down1imageBailoutsK1nsey6 to Late Stage Capitalism@lemmy.world · 2 months agomessage-square81fedilinkfile-textcross-posted to: usa
minus-squareChonkyOwlbear@lemmy.worldlinkfedilinkarrow-up1·2 months agoAnd if they were private loans, they would be different how?
minus-squareManmothlinkfedilinkarrow-up1·edit-22 months 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-22 months 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.