A surprisingly large number of currently enrolled college students severely underestimate their student debt, with many students not realizing that they have any loan debt at all, according to a new report from the Brookings Institute.
The Brookings report — called "Are College Students Borrowing Blindly?" — charted current college students' knowledge of their own student debt. The results were not optimistic.
The Rest.
Would a reaponsible bank give a mortgage to a kid with no job? Then why do they loan the same amount of money for tuition?
ReplyDeleteOne who'd received a congressional guarantee that they couldn't lose money on the deal, obviously.
DeleteWhich is exactly why they do it without the slightest concern for the student's potential.
And when this became apparent to the congressflakes (after the fact, natch), their response was not to require some due diligence on the part of the lenders, but to make it much harder to discharge such debt in bankruptcy.