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Americans, how would you feel about making student loans completely illegal? (lemmy.world)

submitted 11 months ago by nodsocket@lemmy.world to c/asklemmy@lemmy.ml

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This would save young Americans from going into crippling debt, but it would also make a university degree completely unaffordable for most. However, in the age of the Internet, that doesn't mean they couldn't get an education.

Consider the long term impact of this. There are a lot of different ways such a situation could go, for better and for worse.

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[-] QuarterSwede@lemmy.world -4 points 11 months ago

Loans can’t be free in a capitalist society. No one would offer them.

[-] Kalcifer@lemm.ee 3 points 11 months ago* (last edited 11 months ago)

I presume that anywhere where interest-free loans are offered, they are offered by that country's government. Canada, for example, as of April 1st 2023, offers federal student loans interest-free. Depending on the province, some may not have interest on provincial loans, as well.

[-] QuarterSwede@lemmy.world 1 points 11 months ago

That’s the only way it makes any sense.

this post was submitted on 11 Oct 2023

115 points (72.0% liked)

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