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Then they just don't get a job for X number of years (as is already happening anyway), live with their parents, and declare bankruptcy then. Worse, you now incentivize this behavior, because now there 10000s reasons not to get a job. As for this, the average comes from the American community...

First, right after college is when someone owns the least amount of stuff, which is why it is so valuable, and you have your parents to fall back on. Second, they definitely have exceptions for a number of things, depending on state. This frequently includes a car/motor vehicle up to a certain...

There is no way in hell trillions are forgiven every year. And yes, the economy does rely on people paying what they owe, or there being consequences. Almost all banks in the US rely on mortgages, which is a loan that needs to be paid. Most other debt? Also paid. This includes commercial paper...

Given you have 0, and never really seem to have any actual ones, I think I win this. Also: http://www.politicalresearch.org/2008/01/28/rebranding-fascism-national-anarchists http://www.publiceye.org/fascist/third_position.html Here's the Daily Stormer complaining that the Third Position isn't...

This is wrong. One of the few reasons government exists is the enforcement of contracts. They didn't ban usury, they found ways to do it while calling it something else, or by borrowing from Jews (who weren't prohibited). This then led to antisemitism when jews were blamed for others being in...

Third Position's economy is the same as communism's economy. The difference is social policy. So yeah, it seems I was right when I said that smelled of communism. https://en.m.wikipedia.org/wiki/Third_Position

So what economic theory do you follow?

Well, then you must hate capitalism then, as it relies on usury to do finance. Now that's fine, but it also means I don't care about your opinion as to student debt if you don't believe in loans at all.

Someone sounds like a commie here. How is the game rigged? Both sides agreed to it, now one side is trying to cheat the other. Private ones usually have this. What I'm saying is that there are a variety of ways they can get you to pay, and there's enough that there are private businesses will...

Oh, it's repaid by hook or by crook, including wage garnishment, etc. If you get money, they get some of it. And if the student does default, the cosigner is now liable.

No, the debt isn't worthless. It's almost always repaid eventually.

So? The issue isn't whether a degree is useful to you, it's that you having a degree is useless to your creditors, regardless of what the degree is, as they can't reposses it and sell it, unlike almost all forms of bankruptable debt.

There's a reason they are more binding: you can't lose a college degree in bankruptcy. Otherwise every student with a brain would go bankrupt the second they left college, as they are both massively in debt and currently have no possessions outside of maybe a car (and IIRC, cars (one of them)...

Here's the problem: First, the banks made those loans in good faith, and with pretty reasonable expectations that enough would be willing to pay, as college graduates are almost always employed if they want to be, and eventually average earning over 100k/year. That sounds like a reasonable...