My heart leapt with joy when I read that Senator Dick Durbin, Democrat from my home state of Illinois, recently introduced legislation that would make private student loan debt dischargeable in bankruptcy.
I think the odds are long that a measure like this will actually become law (since the lending industry is parasitically attached to the Bush administration, much like the phorid fly attaches itself to the hapless fire ant*), but imagine a world in which young people who have made mistakes and gotten in over their heads by spending too much on their education can start afresh, just like everyone else can do with just about any other investment.
O happy day!
(*You should really click this link and read what the phorid fly does to the fire ant. It's gory to the max.)
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment