@[email protected] to Late Stage Capitalism • 25 days agoBailoutslemmy.mlimagemessage-square83fedilinkarrow-up1995arrow-down117file-text
arrow-up1978arrow-down1imageBailoutslemmy.ml@[email protected] to Late Stage Capitalism • 25 days agomessage-square83fedilinkfile-text
minus-square@ChonkyOwlbearlink1•23 days agoAnd if they were private loans, they would be different how?
minus-square@[email protected]linkfedilink1•edit-223 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-square@ChonkyOwlbearlink1•edit-223 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.