U of Chicago projected to be the first U.S. university to cost $100k per year

Re:U of Chicago projected to be the first U.S. university to... by rhino369 on Monday November 04, 2019 @12:19PM (#21443843)

Student debt isn't likely to cause a 2008 crisis since the vast majority of it is held by (or backed by) the government.

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Re:U of Chicago projected to be the first U.S. university to... by jackcosgrove on Monday November 04, 2019 @09:11PM (#21448968)

Also student loans cannot be discharged in bankruptcy, so there will not be a dramatic crisis triggering writedowns. The digestion of bad loans will take decades.

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Re:U of Chicago projected to be the first U.S. university to... by dragonwriter on Monday November 04, 2019 @09:12PM (#21448972)

> Also student loans cannot be discharged in bankruptcy

Yes, they can, though it's harder than other unsecured debt.

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Re:U of Chicago projected to be the first U.S. university to... by jackcosgrove on Monday November 04, 2019 @09:25PM (#21449026)

It's such a rare event that it wouldn't happen at the scale to trigger a financial crisis.

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Re:U of Chicago projected to be the first U.S. university to... by xzel on Monday November 04, 2019 @11:48PM (#21449702)

So I actually have a question wrt to the fact the government backs most tuition loans: what is really the difference if the US starts a forgiveness program or everyone defaults and the government pays back the lenders? Aren't the tax payers paying something similar both ways?

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Re:U of Chicago projected to be the first U.S. university to... by skinnymuch on Tuesday November 05, 2019 @07:20AM (#21451689)

Isn’t defaulting on student loans and not having the money garnished incredibly hard? If so, it wouldn’t be possible for more than a small fraction to do it.

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