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by GFKjunior 5053 days ago
1) Congress passed a law after a lot of lobbying. The reasoning was that when a student graduates they have substantial debt and no assets, so every student would just declare bankruptcy the day after graduating and wouldn't have to pay back the providers.
1 comments

So the lenders wanted protection.

They are now 100% guaranteed to make money by lending it to uninformed children.

Crazy.