You don't need to be an expert in this field to give an
Posted on: June 25, 2019 at 18:42:05 CT
ummmm MU
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answer.
"various programs could set up to establish repayment systems with locked low-interest rates.
Considering that student loans are unsecured debts, the interest rates are already pretty low. Additionally, there are already govt programs for income based repayment, and these plans are another terrible and deleterious govt solution to a govt problem (where debtors essentially default on repaying their loans and face ballooning accruals of interest).
"You do know that banks put into law that bankruptcies cannot take your student loans."
This is mostly true. There are some instances where student loans can be discharged in bankruptcy. But why should these unsecured loans be so easily discharged by a bankruptcy filing? If you want to absolutely freeze all credit available to students, then you would seek to remove this protection from discharge. Or else interest rates would go sky high.
"Cost of higher ed is preposterous as it stands - so that is another thing to look at."
Well, yeah, just like every other market good that govt has touched, the costs have been divorced from normal economic calculation and borrowers are being misled by false promises and pretenses.