What is FREAKING you out today??

[footfootfoot]

That strategy sounds not unlike the war on drugs and terrorism, create a demand for a product (degree) put that product out of people's reach (cost) but make having it an imperative (job requirement) offer money to fund purchase (loan) neglect to tell borrower that even with the degree their earning power will not be likely increased to the point where the degree purchase is justified but offer counseling discouraging them from borrowing too much.

The other problem for the school is if the student doesn't borrow they don't fill the seat...

One of the problems with defaulting on a student loan in NYS is that you are ineligible to apply for a state job (which is stupid, you'd think they'd want you employeed where they could garnish your wages as a term of employment, but whatever) and you are also not eligible for some types of state aid, again, kind of stupid, if you can't afford to pay for your loans, then maybe you might be in need of public assistance too, and if you are just defaulting despite ability to pay, then you probably won't be applying or eligible for public assistance.

I remember reading, about the time when they changed the rules about discharging student loan debt with bankruptcy, that the majority of money owed by defaulters was from doctors and lawyers who felt that they didn't really need to repay their loans.

Maybe you have more info on that alleged factoid, Shawnee.