This is true to a point. Mainly that student loans are backed. There is no risk to a lender. Second you cannot even file bankruptcy on student loans. Thirdly Obama took over all student loans, so they are through government lenders now. I am conservative/libertarian in my political beliefs so I do not agree with all the government "benefits" so many people seem to think they are entitled to these days, but I think if the government is loaning the money we can afford lower or zero interest. Even before the takeover the banks were not really at risk with these loans so the rates could have been lower. Op probably doesn't fully understand because all anyone has heard for years has been rhetoric like Sen Warren's.
In my country (we're a third world country), we pay for student loans with about two or above years of service (also depends on the type of scholarship and contract). We just have to work for public organizations for said number of years. If you're funded by a private org however, most of the time you don't owe them anything. Only some require service years.
Our government is corrupt as well but I just really don't understand how a first world country like the US can't do the same thing. I feel bad for all of you guys who have to spend their entire lives not being able to achieve their dreams just because higher education was too much to ask. :(
Mayby you should stopping sucking dick and understand that student loans are LOANS with Intrests which include Risk of bailing.
And nobody of you liberal arts major Other-kin tumbleristas are able to pay back without a HUSBAND or Goverment bail-out.
Damn, hate much? I assume you have not attended college or are a trust fund baby. In fact I am a psychology major, and registered Republican. I do not think the world owes me anything and I do not want any handouts from anyone. At one time private banks made student loans with government guarantees to back them. The banks did need to make a profit. Obama has dictatorially taken over the entire student loan industry, and these liberal asses (for instance, Senator Warren) still bitch and moan about it being unfair. They control the loans, so if they really cared, they'd make them "fair". These people spend enough of my money on their social programs and corporate welfare to more than pay a little interest on my loans. I do not want free school, i just don't want to pay for it until I'm 80. I just have a problem with the people doing the financial raping whining about people getting wallet raped.
OP clearly doesn't understand how banking works.
Our government is corrupt as well but I just really don't understand how a first world country like the US can't do the same thing. I feel bad for all of you guys who have to spend their entire lives not being able to achieve their dreams just because higher education was too much to ask. :(
And nobody of you liberal arts major Other-kin tumbleristas are able to pay back without a HUSBAND or Goverment bail-out.