That was made the case because you can’t repossess an education (yet). I don’t necessarily agree with it but I also don’t actually have a problem with banks not being allowed to seize private homes within certain limitations.
Being that most of the people who didn’t/couldn’t pay their student loans did pay rent… The banks would have gotten their money and many of the people would have equity. I’m not saying there wouldn’t have been defaults, but I get what they meant
The money I spent on my education could have bought the roof, a ton of bootstraps to pull up, but probably not the electricity. :(
I’m just saying if mortgages were treated like student loans we’d actually be in a better place as a society.
Banks would fucking love this. They would be salivating at the idea that home loans can’t be discharged via bankruptcy.
That was made the case because you can’t repossess an education (yet). I don’t necessarily agree with it but I also don’t actually have a problem with banks not being allowed to seize private homes within certain limitations.
Being that most of the people who didn’t/couldn’t pay their student loans did pay rent… The banks would have gotten their money and many of the people would have equity. I’m not saying there wouldn’t have been defaults, but I get what they meant
Students would love this, you’d be able to discharge the debt via bankruptcy!