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jartelt

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jartelt
·9 anni fa·discuss
Totally agree. If they want to do so, I would certainly recommend a young person get a degree regardless of whether it is STEM or not. I just wouldn't give someone a huge loan to study a low earning major at a expensive private college. That is just setting them up for a mountain of debt they are unlikely to be able to pay off.
jartelt
·9 anni fa·discuss
If the word "loan" is in the name of the financial product, you are expected to repay. At some point we need to be upfront with high school graduate and tell them it is a bad idea to go study art history at a $40k a year no-name private college.
jartelt
·9 anni fa·discuss
The article does compare them (albeit without much detail).

“Delinquency rates on student loans are much higher than those on auto loans or mortgages, due to loose student loan underwriting standards, the unsecured nature of student debt, and the inability to charge off non-performing student loans in bankruptcy,” Goldman Sachs Group Inc. analysts Marty Young and Lotfi Karoui wrote in a note Tuesday. “The substantial majority of student loan default risk is borne by the U.S. Treasury.”