Re:A Student Loan System Stacked Against the Borrower
by paulddraper on Sunday October 11, 2015 @06:10PM
(#10371298)
Collect on my credit cards. I dare you.
[ Parent
| on HN ]
Re:A Student Loan System Stacked Against the Borrower
by dvanduzer on Sunday October 11, 2015 @06:31PM
(#10371384)
This is a pretty basic financial distinction. A credit card is an unsecured loan. A car loan is a secured loan, with the car itself as the asset backing the loan.
A college education is unlike all the other kinds of assets that individual humans tend to "own". The only thing they could meaningfully repossess is the sheepskin.