Soaring Student Debt Prompts Calls for Relief

Re:Soaring Student Debt Prompts Calls for Relief by ChemicalWarfare on Tuesday September 13, 2016 @05:58PM (#12492618)

Upvoted. But. The argument against this could be that due to the unsecured nature of the six-figure (potentially) debt the free market rates will be insane effectively reducing access to higher ed for those who can't afford it without the loans.

Then again, if less ppl could afford a degree in Queer Musicology (does exist - https://www.musicology.ucla.edu/mission-and-history-1) or let's say Environmental Studies etc maybe the supply and demand would even out so that'll be a good thing.

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Re:Soaring Student Debt Prompts Calls for Relief by zanny on Tuesday September 13, 2016 @07:38PM (#12493142)

There is already plenty of movement, and in general close to ready availability, of free college in everyones home state at their state university or several other public universities funded by the state government.

If you got rid of the insanity that is federal loans it would just increase demand for state schools and community college.

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Re:Soaring Student Debt Prompts Calls for Relief by dragonwriter on Tuesday September 13, 2016 @06:55PM (#12492904)

> The argument against this could be that due to the unsecured nature of the six-figure (potentially) debt the free market rates will be insane effectively reducing access to higher ed for those who can't afford it without the loans.

Given that federal loans have always had rates set by government policy (not market rates) and the fact that private participation in the program was ended in favor of exclusively direct loans in 2010, I'm not sure what the concern for "market rates" is -- there is no market involved.

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Re:Soaring Student Debt Prompts Calls for Relief by ChemicalWarfare on Tuesday September 13, 2016 @09:50PM (#12493737)

see the comment I was replying to >>> "Get the government out of the loan business and the market will correct itself."

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Re:Soaring Student Debt Prompts Calls for Relief by paulcole on Tuesday September 13, 2016 @09:05PM (#12493557)

>Environmental Studies

God forbid.

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Re:Soaring Student Debt Prompts Calls for Relief by ChemicalWarfare on Tuesday September 13, 2016 @09:47PM (#12493721)

in the "free market" student loan situation this would be an unsafe bet on the creditor's behalf.

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Re:Soaring Student Debt Prompts Calls for Relief by mywittyname on Wednesday September 14, 2016 @09:14PM (#12502635)

There's no such thing as "free market" lending because so much of it is tied to legal institutions. For example, is bankruptcy allowed in a free market? Indentured servitude? Seizure of assets?

Absent a government, lending is a lose-lose situation. The lender has little recourse to compel the lendee to pay, and the lendee has no protection from the lender.

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