I'll retract if I can find some evidence that they were warning people before the housing clapse.
Let me see if I understand:
Two economists whose salaries are paid for by students who take out student loans to pay their tuition don’t see a crisis in student loans.
Did I get that right?
“a report from College Board showing average debt is $22,000, adjusted for inflation”
Oh that’s no problem, the average newly-minted student has that in their back pocket.../sarc
These people are either insane or bubble-dwelling econ profs (but I repeat myself).
That is twice what my parents paid for their first house and $4,000 more than I paid for my first.
The overhyping is deliberate and part of the ground preparation strategy for Obama’s “I will forgive your student loan” speech in October.
That is precisely why this academician is teaching instead of out in the real world earning her keep. Total bullshit.
I agree with them.
Get rid of the law prohibiting bankruptcy for private student loans.
Then lenders will be much more cautious about who they lend to and how much they will lend. Then students will not get such large loans and in many cases no loans. Then universities will have to LOWER THEIR COSTS to keep their universities filled with students.
The anti-bankruptcy law was a give-away to lenders who must have lobbied hard for that little gem. Imagine if they did that for car loans? Then the price of cars would skyrocket.
I agree with them.
Get rid of the law prohibiting bankruptcy for private student loans.
Then lenders will be much more cautious about who they lend to and how much they will lend. Then students will not get such large loans and in many cases no loans. Then universities will have to LOWER THEIR COSTS to keep their universities filled with students.
The anti-bankruptcy law was a give-away to lenders who must have lobbied hard for that little gem. Imagine if they did that for car loans? Then the price of cars would skyrocket.