dlf
Joined 16 years ago
Joined 16 years ago
It would be helpful if there were a page on the site that described how it works in more detail, or maybe just a FAQs page linked to in the footer with answers to questions like "What kind of website files does Yoozon support?" and "What do you mean by dynamic? ...will Yoozon support my Ruby on Rails site?"
I think the most important theme to this article, aside from the individual story of debt and irresponsibility, is that this looks an awful lot like the way the housing bubble came about. Cheap debt that the borrowers are unable to afford long term. The difference here is that student debt cannot be discharged in bankruptcy, so it seems there would be more people defaulting.
As a side note, the price tag of a degree should not be so high that a career with that degree cannot pay back the debt. This story is unique in that the debt is much older and ballooned due to interest accrual, but there have been a lot of recent graduates with high debt right out the gate with degrees that are much less employable than they used to be.