Comment Re:Repo Man (Score 1) 110
I think its also crap how you can buy an imported car at times with nearly 1% APR, but an education that does not depreciate or get repossessed must not only accrue ridiculous finance fees, it now must also involve indentured servitude.
I believe you answered your own question: in case of default, a car can get repossessed and sold, an education can't. If you were in the lender's position, why would you lend money to students knowing they could default and walk away from the debt?
Its the only guaranteed loan in the business. There is no risk.