Defaulting on Your Student Loans
So many of us have fantasized about defaulting on our student loans. We imagine a collective refusal to pay our debt. We'd do this together, we say. We'd show them. We'd just stop paying entirely, and then the financial institutions who turned us into these indebted zombies would really pay. One reader of mine, a very astute economist, insists that we must revolt in this manner. He calls for a debt revolt on all things, not just student loans.
But then we - the student debtors - stop and think about the co-signers. For those of us with co-signers, we realize we're trapped. We'd have to get our mother, father, or grandparents, perhaps a friends - the co-signer(s) - to agree to this decision. (This is what many of you have said has held you back from committing suicide, something which devastates me every time I hear that admittance). Suddenly, default doesn't seem like a
But then we - the student debtors - stop and think about the co-signers. For those of us with co-signers, we realize we're trapped. We'd have to get our mother, father, or grandparents, perhaps a friends - the co-signer(s) - to agree to this decision. (This is what many of you have said has held you back from committing suicide, something which devastates me every time I hear that admittance). Suddenly, default doesn't seem like a
