The Student Loan Racket
Poor kids get to go to college for free.
But just because they have their tuition and other things paid for, they can still get student loans.
The student loans are interest free until the student is no longer going to school. Either by graduating or dropping out.
The loan money can be used for anything. Food, clothing, lodging, a car, alcohol, illegal drugs. Anything.
So here's what I'm wondering.
When banks give out student loans, they don't get the money back for years and then IF the student loan gets paid back, the bank finally can collect the interest. This seems like a loss for the bank. Banks are in business to make money, not to be kindhearted. Does the government make up the difference in what the banks are losing?
If a kid has a bunch of student loans and drops out of college, they are still supposed to pay back the loan. They might have gotten a free ride and took out student loans and spent the money and their time at college partying. Why should the government give them loan forgiveness? Or they might have bought themselves a car with the money. Why should the taxpayers be giving drop outs free cars?
The whole thing seems like a racket to steal more money from taxpayers and hand it out to people who are irresponsible.