Comment Re:You cannot fine that which does not have a numb (Score 1) 614
Why can't we have a phone number whitelist just like I have for MAC addresses on my wireless router? Everything else dumps to VM.
Most myths have an element of truth in them.
This is a myth.
Charging a higher interest rate for "credit-unworthy" people makes it more likely that they'll default, making it a self-fulfilling prophecy.
This is only true if you assume that people have no choice but to borrow. Young people have a choice. They can decide not to borrow an insane amount of money at an unaffordable interest rate. Higher interest is the market's way of signaling: "Are you SURE you want to borrow?" In most cases, if you can't afford the loan, there's a reason. Going to any college that you want isn't a right.
With your bare hands?!?