Quote:
Originally Posted by L-Pink
I disagree. What makes sense is having the monies paid directly to the educators not the students. This would stop a lot of the abuse and limit the loans to education vs living expenses.
As far as having the loans dischargeable under bankruptcy laws any student worth his education would know to declare bankruptcy soon after getting the loan. Big deal if your credit is a mess when you're 23-25 years old if you get to start your career debt free.
Funding would dry up quickly.
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You almost have to allow for living expenses of some sort in a student loan. If you are going to a university and taking a full time class load you will have very little time to get a job to pay for food and other living expenses. Sure, people will take advantage of it and abuse it, but a lot of students do it so they can buy food, pay for gas for their car and be able to focus on getting good grades and learning as much as possible.
The main problem is how expensive it is to get a degree. A friend of mine's son just started his freshman year. He is getting the state resident discount. After tuition, dorm costs, books and fees it is almost 22K per year. His parents have told him they will send him some extra money for food and other stuff so best case scenario for him is that he will come out of this 88K in debt. That seems crazy to me.