Today, 07:40 AM
The solution is to remove all the protections given the lender and take the government out of the student loan business. Allow student loans to be included in bankruptcy. Student loans should be more stringent than a home or auto loan which can be repossessed. Students should have to qualify for the loan. If there are no jobs in a particular field the loan should be denied. If a person doesn't have the SAT score denied. Put lenders on the hook for the loan and the problem will go away all on its own. If a person wants to go into a field that is not proven to be sustainable then the borrower would need a cosigner and collateral. Government does not want to fix student loan crisis, it thrives on the non-dischargeable debt and the notion that every person should go to college. This guarantees people are enslaved to the government before they even get their first non-existent job.
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