ttystikk
Well-Known Member
1% if students defaulted on their loans before all the prohibitions were put in place, so I fail to see the problem all this is 'solving'.it's a contract. are we to beleive that someone accepted to college can't read a contract? just like we did when people pretended not to know what an ARM or a balloon payment was? if youre saying we have a precedent of writing large sums off on the taxpayers so why not this too....thats a solid argument.
but the morality of it you are invoking doesn't go past the initial contract agreement. and that is collateral for our defecit spending. that contract is in your wallet and in title 12 of the US code. there's another contract in title 30 we should be using since morality seems to be the root issue here for most on most political issues.
if it's an issue of private schools spending of public funds....then cut the public funding. I fail to see how you don't see this as yet another example of crony capitalism between government and a "corporation" that being the college's misappropriation of funds.