Loan =/= salary contract
Originally Posted by rdsesq
Let me ask you a question.
You get a home loan at 4.5% fixed over 30 years. 10 years into the loan, the bank comes to you and says "Hey, we really shouldn't have made that loan and we are not profitable anymore because making these type of loans. We want you to re-fi your house back to us at 8.75% so we can make a profit. How about it?"
What are you gonna tell the bank?
"Nowhere in the college process is there any mechanism to talk people out of taking on student loans. It's in the best interest of the school to fill seats and society still continues to blindly believe a college education is the universal path to success."
Last edited by bimmerfan08; 12-13-2012 at 03:58 PM.