It’s ok, Bush made sure the government backs a lender’s investment by ensuring those loans are an inescapable weight students can never escape, no need to do risk analysis.
Comment on Fml lmao
Archangel1313@lemmy.ca 3 days ago
I firmly believe this should be the lender’s responsibility, the same way it works for business loans. If you are planning on borrowing that much money for something that will obviously never pay itself off…that constitutes a bad risk, and you should at least be advised against it, if not straight up have your loan application denied.
chicken@lemmy.dbzer0.com 3 days ago
victorz@lemmy.world 3 days ago
This sounds like a whole heap of problems lol. Like the banks ultimately controlling what fields of education are considered acceptable. Sounds bad.
Zron@lemmy.world 2 days ago
Investing is only a risk if you’re poor.
That little disclaimer your financial institution gives you that investing is risky and you may lose all your money? That only applies to the poors. When the rich and banks invest in bad businesses or loans, they can cry to the government that they’re about to lose everything and won’t Uncle Sam pretty please open up his wallet and give us a small loan of a few billion dollars.
I say let em go broke. We should have broken up the banks in 2008, fired the whole C suite of chase and all the other banks, and set up smaller banks that now know if they fuck up they’ll get dissolved. Instead we gave them a slap on the wrist and trillions of dollars to fix their own fuckup. This only taught them that they can continue to make massively risky investments with no downsides.
Midnitte@beehaw.org 3 days ago
Or, we just get rid of the entire concept of a loan for higher education.
After all, if that were to be the case, who would be willing to lend for people to become artists or philosophers?
Bonus points being that having some sort of single entity could pressure schools into lowering the cost of higher ed…
Archangel1313@lemmy.ca 3 days ago
Agreed. Best case scenario…higher education would be free. We should all be encouraged to expand our minds, regardless of the financial incentives. If someone wants to spend their entire life living in a dorm room, just to pursue their intellectual aspirations, I say let them.
HeyThisIsntTheYMCA@lemmy.world 2 days ago
i mean shit i got a place to stay but that sounds dreamy