SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : President Barack Obama
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: denizen48 who wrote (130603)2/1/2013 10:38:27 PM
From: RetiredNow  Read Replies (1) of 149317
 
Exactly. What tejek and others won't tell you is that these student loans CANNOT be discharged in bankruptcy, except in rare cases and only if you have a lawyer good enough to beat the lawyers of the bank who can contest it. People rarely win a discharge. Why? Because the banks don't want to lose money, so they have colluded with the government to screw our children. If the free market was at work, then banks would be free to make stupid loans to art history majors who can't pay them back and art history majors would be free to default and discharge them in bankruptcy, creating big losses for banks, who then would decide that art history majors are a bad risk. They then would focus on good loans to students getting majors in areas of the economy where the economy needs the students the most. That means more American students would fill the best jobs in our economy and grow our economy, benefiting more people in a virtuous cycle.

But gov't intervention instead creates malinvestment, which drives up costs for everyone.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News