“The reason”? Really? There are no other reasons? Lol. US post-secondary funding is a joke, but within the confines of the US approach if that rule wasn’t in place then no loans would ever be possible for college education since college students typically have few assets anyways and could just declare bankruptcy after graduation. A good reason why forcing young people to take on debt for post secondary education in the first place is stupid, but that rule is what makes the current system, flawed as it is, work to any degree.
before the privatization of Sallie Mae, post-secondary education was somewhat affordable in the US (limiting itself more to racial discrimination) – after the privatization, they started raising the rates of student loans, became a collector of student loans, started subsidizing loans offered directly from the institutions which allowed post-secondary institutions to raise their fees through the roof driving people into bankruptcy
Write better.
“The reason”? Really? There are no other reasons? Lol. US post-secondary funding is a joke, but within the confines of the US approach if that rule wasn’t in place then no loans would ever be possible for college education since college students typically have few assets anyways and could just declare bankruptcy after graduation. A good reason why forcing young people to take on debt for post secondary education in the first place is stupid, but that rule is what makes the current system, flawed as it is, work to any degree.
before the privatization of Sallie Mae, post-secondary education was somewhat affordable in the US (limiting itself more to racial discrimination) – after the privatization, they started raising the rates of student loans, became a collector of student loans, started subsidizing loans offered directly from the institutions which allowed post-secondary institutions to raise their fees through the roof driving people into bankruptcy
Still doesn’t prove what you said but hey, you typed words so I guess that counts for something.