K1nsey6@lemmy.ml to Late Stage Capitalism@lemmy.world · 4 days agoBailoutslemmy.mlimagemessage-square83fedilinkarrow-up1985arrow-down116file-textcross-posted to: [email protected]
arrow-up1969arrow-down1imageBailoutslemmy.mlK1nsey6@lemmy.ml to Late Stage Capitalism@lemmy.world · 4 days agomessage-square83fedilinkfile-textcross-posted to: [email protected]
minus-squareManmoth@lemmy.mllinkfedilinkarrow-up1·edit-22 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-squareChonkyOwlbear@lemmy.worldlinkfedilinkarrow-up1·edit-21 day agoExcept student loans, public or private, cannot be discharged by bankruptcy specifically so people can’t do what you suggest.
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.