What bank would give an 18 year old with zero earning power or work history who is majoring in Gender Studies at a private school up to hundreds of thousands of dollars with deferred payment for 4-6 years?
The government will back these loans (at our expense) because "muh fair". It is insane. At no time do these kids think about Return on Investment for their education. They blindly take on huge loans and often don't finish school or get a degree in something useless only to be depressed debt slaves for the rest of their life. It has become a complete scam.
If it is not abolished all schools should have to publish in simple terms on the promissary notes ROI, Total cost of loan at xx years with interest payments, Median Income upon graduation (by degree), % Employed after 90 days since graduation.
What bank would give an 18 year old with zero earning power or work history who is majoring in Gender Studies at a private school up to hundreds of thousands of dollars with deferred payment for 4-6 years?
The government will back these loans (at our expense) because "muh fair". It is insane. At no time do these kids think about Return on Investment for their education. They blindly take on huge loans and often don't finish school or get a degree in something useless only to be depressed debt slaves for the rest of their life. It has become a complete scam.
If it is not abolished all schools should have to publish in simple terms on the promissary notes ROI, Total cost of loan at xx years with interest payments, Median Income upon graduation (by degree), % Employed after 90 days since graduation.