« States as Creditors in Bankruptcy: Ohio and Skybus | Main | Rating Agencies »
April 24, 2008
Student Loans: Wrecked
Right-thinking people have long fussed about the "burden of student loans" on idealistic young students who want to go to school on other people money and do "do good". We have devised forgiveness programs and capped interest rates. The wife of Barack Obama has made some famous (infamous) comments on the matter. Well -- not a problem any more -- there are no more loans at all. We have so regulated them that the banks have pulled out -- they cannot afford to lose money on every loan-- particularly in an economic slowdown. Whatttt???? Now students will have to pay their own way or get loans from universities directly. Idealistic young students will have to work for a while to earn tuition and go to state schools. They will not be able to go to Princeton and Harvard on other people's money and then complain about repaying loans well into their forties. Maybe there is a bright side to all this.
April 24, 2008 in Musings | Permalink
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/t/trackback/89778/28452982
Listed below are links to weblogs that reference Student Loans: Wrecked:
Comments
While I agree with the general premise of your post, Princeton and Harvard both give grants to every student that qualifies for financial aid. Bad examples.
Posted by: Dave | Apr 24, 2008 9:33:39 PM
I some cases it's a shame that students can't get loans. On the flip side, there are many students paying full tuition through summer jobs and working while attending school.
Completing college by paying cash is possible. I did it!
Posted by: Leah Fairman | Apr 25, 2008 10:57:03 AM
Before crowing too loudly, remember that professors are largely overpaid and underworked due to direct and indirect government subsidies, including student loan programs.
Posted by: save_the_rustbelt | Apr 25, 2008 11:14:33 AM
Well, I think now a day's enterprenuers are thinking about trading businesses also. They are just developing a good business..or Buy a good business.. Develop it..& Sell the business.
Posted by: Jenn | Apr 28, 2008 2:53:05 AM
Student Loans can become a headache debt if they are not managed properly. I had two years of in debtness because of two student loans. Thanks to debt management I came out of that.
Posted by: Jenn | Apr 28, 2008 2:59:31 AM
