5 ms·
1) Congress passed a law after a lot of lobbying. The reasoning was that when a student graduates they have substantial debt and no assets, so every student wou
by GFKjunior 14y ago
1) Congress passed a law after a lot of lobbying. The reasoning was that when a student graduates they have substantial debt and no assets, so every student would just declare bankruptcy the day after graduating and wouldn't have to pay back the providers.
- grecy 14y agoSo the lenders wanted protection. They are now 100% guaranteed to make money by lending it to uninformed children. Crazy.