i seriously doubt we'd see the end of student loans, in the event that you could default on them. the banks would expect cosigners, a credit history, and maybe they'd actually look at whether or not the career options for your field of study could actually support the kind of loans you were taking out. (loaning a kid tens or a hundred thousand dollars so that they can get a degree in english lit in four years is just cruel, even if they can default on it.)
maybe kids would have to work for a year or two, to save a bit of money, and build a credit history before they'd be loaned the funds. just as well, imo. most 18-19 year olds aren't ready to be in college, anyways.
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i seriously doubt we'd see the end of student loans, in the event that you could default on them. the banks would expect cosigners, a credit history, and maybe they'd actually look at whether or not the career options for your field of study could actually support the kind of loans you were taking out. (loaning a kid tens or a hundred thousand dollars so that they can get a degree in english lit in four years is just cruel, even if they can default on it.)
maybe kids would have to work for a year or two, to save a bit of money, and build a credit history before they'd be loaned the funds. just as well, imo. most 18-19 year olds aren't ready to be in college, anyways.
> maybe they'd actually look at whether or not the career options for your field of study could actually support the kind of loans you were taking out
The problem lies in the fact with our unemployment situation there are plenty of people in "good" fields that are still screwed.
And those people might default. But factoring that risk in is a bank's job.
most 18-19 year olds aren't ready to be in college, anyways ... amen! I wasn't for sure.