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A comment on Online installment loans have taken the subprime market by storm. Parent comment

Re:Online installment loans have taken the subprime market b... by entropicdrifter on Tuesday October 29, 2019 @11:43AM (#21388420)
Except that student loans can't be abandoned even if you declare bankruptcy. That one little factor makes them some of the worst loans imaginable in terms of long-term prospects.
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Re:Online installment loans have taken the subprime market b... by chasd00 on Tuesday October 29, 2019 @01:02PM (#21389417)
the tradeoff is insanely low interest rates. Without the federal backstop student loans would have the interest rates of credit cards because as soon as new graduates get into the workforce, can't find a job, they'll file for bankruptcy to get out of the loan. Managing that risk without a backstop means incredibly high interest rate to cover for the losses of loans lost in bankruptcy.
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Re:Online installment loans have taken the subprime market b... by dsfyu404ed on Tuesday October 29, 2019 @01:23PM (#21389675)
Student loans didn't have those kinds of interest rates back when they could be discharged in bankruptcy 20+yr ago. Why would they now?
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Re:Online installment loans have taken the subprime market b... by mrguyorama on Tuesday October 29, 2019 @02:29PM (#21390514)
The downside/risk to the lender is about 10x higher per loan than it was 20+ years ago
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Re:Online installment loans have taken the subprime market b... by notus on Tuesday October 29, 2019 @11:46AM (#21388464)
Still not worse than triple digit interest rates
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Re:Online installment loans have taken the subprime market b... by godzillabrennus on Tuesday October 29, 2019 @11:55AM (#21388587)
Those unpaid predatory loans fall off your credit report after about a decade.

Student loans are forever.

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