Quote:
Originally Posted by 74-911
I find it interesting that many of you seem to think you should only get student loans if you are on the "correct path" for the "right" job (apparently to be decided by who exactly isn't clear but apparently some beauracrat or banker). An odd idea as the mantra of most in PARF is get the government out of my life.
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If the gov't. didn't back (uncollateralized) student loans with my tax money, I wouldn't care at all about the ease of getting loans for a PhD in basketweaving. As long as I'm
not paying for it, knock yourself out. But as long as I
am paying for it (which I don't want to do) or at least covering the risk, I'd like to see some actual sane underwriting decisions in the loan process.
Try getting a mortgage (say a 5/1 ARM) based on what you expect to earn in five years when the rate adjusts. Won't happen. Why, then, should we be giving loans to kids whose course of study gives them little or no chance of making enough money to repay the loan? If you want to major in transgender Chicano studies, be my guest. Just don't expect my tax dollars to insure the loan you'll never be able to repay. let the bank worry about, let them use their own money and I'm guessing they'll expect more than your signature on the papers.