3742 We're about to find out that decades of policy in this nation has been steered by people who probably weren't legitimately elected. posted 153 days ago by HeavenlyTrumpets 153 days ago by HeavenlyTrumpets +3742 / -0 Question: What will we do about that? 183 comments share 183 comments share save hide report block hide child comments Comments (183) sorted by: top new old worst You're viewing a single comment thread. View all comments, or full comment thread. ▲ 3 ▼ – dannydrak 3 points 153 days ago +3 / -0 You can't just negate the faith of contract. Want insane interest rates to cover the possibility of it happening again? No one will want to make a loan again. permalink save report block reply ▲ 4 ▼ – WhiteLash 4 points 153 days ago +4 / -0 Predatory contract with predatory interest though I agree to disagree. I understand your point. permalink parent save report block reply ▲ 3 ▼ – dannydrak 3 points 153 days ago +3 / -0 Unfortunately your opinion of college loans doesn't fit the definition of predatory. The government doesn't own the loans, they just guarantee some of them. Getting the government out of loans will drive the price of college down. If you increase the chance of loss you decrease the availability. Lower tuition applications means lower tuition prices. If there's no risk of loss why wouldn't you just keep increasing your prices every year. Furthermore, the amount of debt is too large for the taxpayer to just pay off. The individual must honor the agreement. permalink parent save report block reply
You can't just negate the faith of contract. Want insane interest rates to cover the possibility of it happening again?
No one will want to make a loan again.
Predatory contract with predatory interest though I agree to disagree. I understand your point.
Unfortunately your opinion of college loans doesn't fit the definition of predatory.
The government doesn't own the loans, they just guarantee some of them. Getting the government out of loans will drive the price of college down.
If you increase the chance of loss you decrease the availability. Lower tuition applications means lower tuition prices.
If there's no risk of loss why wouldn't you just keep increasing your prices every year.
Furthermore, the amount of debt is too large for the taxpayer to just pay off. The individual must honor the agreement.