Starting next month, borrowers enrolled in SAVE who took out less than $12,000 in loans and have been in repayment for 10 years will get their remaining student debt cancelled immediately.
Starting next month, borrowers enrolled in SAVE who took out less than $12,000 in loans and have been in repayment for 10 years will get their remaining student debt cancelled immediately.
Even degrees that are more likely to get you a job won’t guarantee you a job in that field or a job in that field that doesn’t pay enough and you could easily be laid off and unemployed for an extended period of time.
For sure, there’s always risk involved. But I get a smell from it based on the fact that the risk is essentially entirely on the student, which means there’s an incentive to give out the loans without judging the “business plan”, so to speak.
Doesn’t happen with business loans. Give out a bad loan to a business and the bank just loses the money when inevitable bankruptcy arrives.