Placing the Blame as Students Are Buried in Debt

[Tsunami]

Originally Posted by EpyonXero

Unlike a home loan its almost impossible to charge-off an education loan so the banks know that even if the borrower never graduates or gets a decent job they will still get their monthly payment.

True, if they have a job, they can always garnish wages. At least for federal loans anyway. But that's only if they are working!

[Particle Man]

Originally Posted by EpyonXero

Unlike a home loan its almost impossible to charge-off an education loan so the banks know that even if the borrower never graduates or gets a decent job they will still get their monthly payment.

Sometimes I think companies like Sallie Mae have more power than the freakin' IRS