Quote:
Originally Posted by Ksyrup
College isn't for everyone. Someone deciding to borrow $150K to go to school for a degree that would likely not allow them to pay off their debt for decades is simply a bad decision. It's basically gambling too much money on a longshot with a bad return. I'm not sure what makes this different from any other bad decision resulting in heavy debt.
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One major difference (speaking as someone who also opposes blanket debt forgiveness) is that student loans generally aren't dischargeable in bankruptcy.
I'm not entirely opposed to making them dischargeable via bankruptcy (I generally believe people deserve second chances) but at the same time we need to restrict the loans that we're handing out in order to keep this problem from continuing. Perhaps restrict how much we'll give for a degree based on the median earnings of people who have earned that degree. That's one of the things that has me most disappointed. We're trying to clean up the mess while the pipe is still leaking.