Quote:
Originally Posted by plutnicki
I would say the big difference is that no bank will give an 18 year old with no job a mortgage, or a loan for a $100k car, and yet they can get financed to get a $150k loan to become a teacher making $30 - $40k/year or worse. It just doesn't make sense to me.
I don't believe in forgiveness either, but going through this process with my youngest (luckily he won't need loans), I can see how poorly the process is managed and how poorly the kids are counseled. I can see how kids get taken advantage of, particularly if they don't have strong support, which not all do.
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I'm sure if their rich parents cosign for the car loan the kid could get it.
Unfortunately when it comes to student loans WE are the cosigners. Absolutley no incentive for the college to give 2 shits if they can actually pay the loan or not because the college will get it's money regardless.