Quote:
Originally Posted by UGAalum94
Sounds great to me.
Maybe it's because I went to a downscale institution, but if a person wants to individually mortgage his or her future to attend Emory over UGA to study Art History at the undergraduate level, I'm down with that. Live your dreams and I hope it's worth the price difference.
But it is odd to think that we'd have federal programs that would help or regulate it.
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But, you're not borrowing directly from the government. You're taking loans out from a bank; in the event that you completely default (which is next to impossible since they garnish your wages and/or reduce your income tax refund if you don't pay), the government backs it up. Also, since loans can't be discharged in bankruptcy anymore, it's not as if people are shirking their responsibilities. In my mind, it's no different from a VA or FHA mortgage except you can't foreclose on it.
Oh, most people who go to private schools don't "mortgage their future," either, unless they're going to law or medical school.
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