The bankruptcy "reform" reduced the incentives of creditors to assess credit worthiness, or to ascertain whether the individual is likely to get a return from the education commensurate with its costs. It increased the incentives for predatory lending, since lenders could be more certain of recovering the loans, no matter how onerous the terms and how unproductive the uses to which the money was put.
— Sep 21, 2012 08:32AM
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