Interesting.
When one reneges on a car payment, the loan owners can take the car back - thereby receiving some value.
But, given that most of the “eddikashun” that these student loan borrowers received, there is absolutely nothing of value that they got in the first place. What’s to take back? Wokeness? DEI? Absolute stupidity?
In the biz, it’s known as having no collateral. Automatically, that makes the loan riskier. In another lifetime, I was a loan officer for a credit union. First thing we were taught were the three C’s of credit: collateral (assets to pledge against the loan), character (credit history), and capacity (income stream).
“ Interesting.
When one reneges on a car payment, the loan owners can take the car back - thereby receiving some value.
But, given that most of the “eddikashun” that these student loan borrowers received, there is absolutely nothing of value that they got in the first place. What’s to take back? Wokeness? DEI? Absolute stupidity?”
That’s easy.
The school collects the money from the government straight up. No questions
Does the school have to advise the kid he’ll have to have a job? Does the school take any responsibility in getting tge kid a job?
Why not?