Comment Re: Cool Cool (Score 1) 85
What needs to be done is make these dischargeable debt.
We tried that, graduates would declare bankruptcy, get the student debt discharged, and just have to wait 7 years or whatever to take out a loan to buy a house.
This will make lending focused on degree payback and the college graduation rate.
How do you figure? Right now student loans are all but guaranteed for all that apply, and we have tremendous delinquency rates despite the debt not being discharge able. If you make student debt discharge able, what's the incentive to pay it back? Maybe you meant to add "and put student debt back in the hands of private lenders, who will bear the cost of that discharged debt, so they will be very selective about giving bad credit risk students tens of thousands of dollars for their degree"? Is that what you meant?