[mkagenius]

> it's common for migrant labourers in India to sleep on the street

but not all poor are migrant workers. Most poor people live in villages made by their forefathers.

Poor people borrow money but they do not have to give their house in return and become homeless in case of non payment.

> who's secure enough to make it a blanket rule not to borrow money is well above the kind of insecurity that those living on less than a dollar a day deal with.

But in the US, even people with degrees from good colleges become homeless because of debt. I will be surprised to see many people in India becoming homeless because of education loan.

edit: Just to make my point clear, there is a difference in mindset of people in India and the US. Indians do not risk taking huge loans just to be able to have a job at the end of college or take huge home loans to live a posh life and later become homeless in case of a job lay off.