Quote:
Originally Posted by Pierre
A loan is a loan, regardless. You should pay it back.
Why should a 16yr old, on an apprentice scheme, paying tax, fund a student peer to go to university?
Regardless of income, all student loans should be repaid, then maybe they might think on what degrees pa more!
I would enforce repayment of all loans, regardless of income.
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The problem is, it is so expensive you are going to end up bankrupting people perhaps many years later, if the loan is construed as of the regular type that must be repaid in full. In fact there is no way anybody aged 18 with no assets or proof of income would ever be granted a loan of that size on those terms. Generous loan forgiveness terms are the only way it can work - you claw back what you can from who you can and write off the rest. That is how it’s designed but we’re being dishonest about it, leading to headlines about the size of ‘student loan debt’ as if it’s got out of control when it’s actually how the system as designed.