It’s not that simple. The student loan market is utterly unfair against the borrower. The information is one-sided. There is no market competition. The interest rate has been artificially high for years. Once borrowing starts, it is hard to know how much more will be required in order to attain one’s educational goal. You can’t refinance the loan without privatizing it (and losing the program’s protections).
Also, this isn’t about non-repayment. It’s about relief from a situation that borders on usury.
It’s not that simple. The student loan market is utterly unfair against the borrower. The information is one-sided. There is no market competition. The interest rate has been artificially high for years. Once borrowing starts, it is hard to know how much more will be required in order to attain one’s educational goal. You can’t refinance the loan without privatizing it (and losing the program’s protections).
Also, this isn’t about non-repayment. It’s about relief from a situation that borders on usury.