No, what I'm stating is that with anything in life - be it insurance pools, healthcare pools, banking loans, etc... You have a POOL of risk. You want a DIVERSIFIED pool.
People with higher risk, pay higher APR. People with lower risk pay lower APR. Regardless, you want an overall well rounded pool to hedge your bets. Our federal loans program is basically asking for the most riskiest pool - BUT DISMISMISSING the least riskiest. That makes ZERO sense.
There will be no such we’ll rounded pool, everyone will pay an astronomical APR. maybe some will pay a slightly less astronomical one but there is simply no way a lender will give someone with no income, no credit, and no assets tens of thousands in unsecured loans without an insane rate. They can pledge any major they want, it won’t matter, haha.
Face facts: There are plenty of middle-class and upper-middle class families where the parents are stupid as shit - they don't save for their kids college fund, but for some reason the parent's stupid decisions should be a determining factor as to what loans the federal government will give them? That makes zero sense.
If there’s one factor in all of this that does make sense it is this one. A student should not be judged on the finances of their parents. Again, that’s how you get incompetents like Jared Kushner.
See my other post related to drinking. You guys really need some consistency. 18 is acceptable to understand the complications of sex, pregnancy, having a baby, etc...
I’m entirely consistent. You can give a baby up for adoption, for example. As for child support there’s no public policy reason to allow someone to void it.
If you can explain to me how our current system of lifelong debt supports superior outcomes I’m excited to hear it. I doubt you can.
21 is acceptable for drinking (and driving). But not understanding paying debt isn't acceptable for 18? If so what is appropriate age? At a certain point, you need to fucking understand that stupidity isn't an excuse. You can't just keep citing that. You don't cite that with drinking and driving do you? So why would a loan be any different?
Lifelong punishment for a DUI is also not something I support. Any other ideas?
