The Hefty Yoke of Education Loan Debt. Except, this is certainly, for just one variety of financial obligation: figuratively speaking.
Demonstrably, it is impossible to utilize traditional loan underwriting criteria to students whom, by definition, aren’t at this time making sufficient cash to settle their loans. However the system is at the mercy of punishment by universities whoever main — if not just — objective is to obtain their fingers regarding the cash.
The kind that do a lot of advertising on New York subways — the Department of Education has been trying to come up with a rule to exclude programs that have a clear history of not producing people who can earn enough to repay their loans: a “gainful employment” rule for programs that do not lead to conventional degrees — largely the training programs pushed by for-profit private schools.