Originally Posted by
tsquare
That is a fair question, but I think it boils down to the gubbamint "getting theirs". I think everybody that is paying attention now realizes that government backed student loans are what's driving the out of control costs of university education. The curves have finally crossed where those loans are no longer serviceable for degrees like women's studies and 19th century French Poetry. So like everything else now in a socialist government, it has essentially become an entitlement.... actually, for those WITH loans, it is slavery. Exactly what the current administration wants. I digress. So individuals are held to those agreements because the government gets theirs, but in the case of corporations, they can break agreements with third parties if necessary for "survival". It ain't fair, I agree, but that is what it is.... unfortunately. Actually, I don;t think student loans should be bankruptable. If Susie schoolteacher goes to Harvard to get her certificate, and only makes $20K/year, well she made a bad choice, and it ain't MY responsibility to pay for her mistake.
While I agree in theory, I would still prefer a way for students to go the BK route over the government bailout/entitlement route. Leave the lending institutions holding the bag and after the first round they won't be making it rain 6 figures for 4 more years of high school with no ROI. As long as the govt bails them out, the cost pressures will only continue to rise because there is no consequence for making the poor decision to get idiotic 6 figure degrees in nothing in the first place.
Big Ed is going to have to take a huge haircut. More like a full body shave. Paying 6 figures for a reading list of free stuff online and in libraries knowing full well there is no job at the end of it just to extend your childhood is just dumb. Forking that much over so your kids can do it is even dumber. We're cresting the hill of the crisis and yet still learning has not occured.
