> The student loan system today generates a huge number of defaults.
Too bad you can't default on student loans. I'm lucky I have 7k in the bank and 10k in student loans to pay off since I'm unemployed. I've heard horror stories of people working minimum wage service jobs with 40% of their wages garnished for student debt for an art degree.
It is their faults they did it, but its also the faults of colleges and institutionalized higher education creating a culture of dependent debtors when young people leave high school.
Too bad you can't default on student loans. I'm lucky I have 7k in the bank and 10k in student loans to pay off since I'm unemployed. I've heard horror stories of people working minimum wage service jobs with 40% of their wages garnished for student debt for an art degree.
It is their faults they did it, but its also the faults of colleges and institutionalized higher education creating a culture of dependent debtors when young people leave high school.