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 Student Loan 'Forgiveness'?
Lastquagga 52 posts, incept 2022-04-30
2022-04-30 12:11:12

@Tickerguy, yes, I agree that maybe taking away the degree is the moral answer, though I think repossession of the collateral is even better. Since there's no way to suck the knowledge out of someone's head and sell it back to the college, they will have to find a different way of securing it -- parent, the college itself, some business, maybe a community that desperately needs a doctor. Or the way I did it -- run a coding business and sell it before going for my degree.

I have my PE in three states, and none of them require proof of a BS degree to renew. So you would have to add that as a step in licensure. Easy, sure, but necessary. However, that's only going to affect those who need licenses to practice. Which excludes almost all BAs, and I'd guess at least half of all BSs.

Yes, I get that the law had been changed to prevent strategic defaults, but that method was exactly the wrong answer. Your plan is much better than theirs. But I think even better would be to get government out of the picture entirely, let the strategic defaults happen, and let the banksters get their comeuppance for not sufficiently collateralizing the debt. I think it's the only way to align incentives to not loan money for underwater gender studies weaving degrees, which would necessarily push down prices.
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