They can end up docking your pay to get theirs back, which is why the rigged game needs to be smashed.
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.
One issue here is that when it comes to student debt, the government regulates it and, in fact., has special rules which apply to student debt and no other forms of debt. Actually, any kinds of enforcement of payment of debt requires government involvement, so we can't go with pure free market on any of this.
Another issue is that taking on this outrageous debt is so heavily encouraged to such young people that it's almost not even a choice, at least not a well informed choice. You can have a person who is 17 or 18 who agrees to take on $100,000 in debt, one that that follow them forever without even bankruptcy discharging it, to get a degree which is nearly worthless. A young high school senior is so heavily propagandized about the importance of college that they are essentially tricked into taking on this debt.
Also, with regard to higher education, the institutions themselves (including funding, accreditation, and licensing) are so heavily tied up with government money and regulation that I would contend that nothing involving them is remotely free market.
I think it's unfair to look at college loans that are enforced by the government with special laws to go to a university which receives public funds, to get a degree that has value because the government requires it in order to practice a certain profession, and say that its the free market for students to have to pay up on those loans. I agree that just paying off the student debt is extremely problematic, but the game certainly is rigged.
Usury is a sin. Hating the sin of golden chains of debt does not make one a 'commie'.
“Are we not ashamed to pay usury? Not contented within the limits of our own means, we do by giving pledges and entering into contracts, fabricate the yoke of our slavery.” – Plutarch We exho…
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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.
Well, for many centuries the Western world banned or nearly banned usury. Were they complete fools to do so? I don't think so. If we look at modern America, we have virtually a usocracy where banks, Wallstreet, the Federal Reserve, and other related institutions have insane amounts of power over the nation while essentially producing nothing. We have an economy where consumption is the defining characteristic of success, which has all sorts of destructive effects on our culture and on politics as well.