Reply to WTF? Govt rewarding bad behavior Part II

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[quote=Anonymous]To bring this full circle, I agree that (i) inability to discharge loans in bankruptcy, (ii) loose (OK, nonexistent) lending standards, and (iii) consolidation of federal loans into a 30-year repayment program all conspire drive tuition increases at a rate that far exceeds inflation.  Students don't care how much they take out because they can repay it for a fairly small monthly payment over 30 years and, let's face it, most of them are 18 years old and idiots, lenders don't care about even basic underwriting because there's no way for the students to avoid repayment absent death, and schools don't care about raising tuition because they KNOW lenders will lend the full amounts.

The income based repayment program is just another way to minimize the consequences of excessive borrowing.  Now, the risk is all on the students - this shifts it onto the taxpayers.  Now, NO one has an incentive to acr responsibly, even the borrowers.

I'm pretty liberal, but I also have a 5 yo daughter, and I'd like some rationality returned to the system in the next 12 years or so.  This program doesn't do that - it exacerbates the problem.  [/quote]

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