Wednesday, June 20, 2018

Student loans

The idea of holding up people's professional or driver's licenses due to student loan debt doesn't make a lot of sense to me. Someone is in student loan debt and perhaps they have a law license (probably incurred even more debt to go to law school) and if they can't practice law if that debt remains unpaid. Or if it's necessary for you to drive to work you can't - well shouldn't anyway - if your state decides to suspend your license over student loans.

So basically student loan bill collectors have tools at their disposal that will make it difficult for you to either get the job that enables you to pay off the debt or even harder to get to work so you can pay that debt. So think about it if you don't pay off your student loans we'll make it harder for you to get out of debt by taking away a professional license or you just can't drive.

Too bad! Shouldn't have gotten into debt anyway. Your responsibility!

Anyway, this post at Instapundit shows that there are people in Washington, DC who are trying to curb that. I think there are many looking for some form of relief.

Also I never thought of student loans this way "At the same time, Americans are spending more than they can afford on higher education, driven by the kind of cheap credit that fueled the housing bubble."

With my experience at Morehouse in mind - with financial aid and student loans - now that makes sense to me.

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