Dirty secret: Black american students have a DISMAL rate of paying back their loans. The debt sits on the balance sheets of banks - as dead weight. If the banks could get rid of the debt, the balance sheets would look better.
They are NOT making any money on these loans, as they don't get paid back. So the banks win if the debt is erased. Especially if the tax payers eat a portion of it.
I know so many people who apply for the loans at the community college level because they will get way more than what the school cost and blow the rest of it.
Dirty secret: Black american students have a DISMAL rate of paying back their loans. The debt sits on the balance sheets of banks - as dead weight. If the banks could get rid of the debt, the balance sheets would look better.
They are NOT making any money on these loans, as they don't get paid back. So the banks win if the debt is erased. Especially if the tax payers eat a portion of it.
I know so many people who apply for the loans at the community college level because they will get way more than what the school cost and blow the rest of it.
They call that being "student rich."