If that was an actual problem wouldn't people be doing it without the college already? When I was in my early 20s I got non-stop credit offers and I could have easily pulled out tens of thousands in crappy debt.

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throw2ih020 3 hours ago | parent | next [-]

> If that was an actual problem wouldn't people be doing it without the college already?

I see you haven't heard of /r/churning. Although it doesn't involve bankruptcy, because then the sheriff comes down and takes your property from you...

	▲	ashdksnndck 2 hours ago \| parent [-]
		Churning is not about taking out debt and not paying it off. It’s about signing up for credit cards and spending money to earn rewards points, and paying off the balance soon to avoid owing interest.

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reddozen 3 hours ago | parent | prev [-]

Ok. And the interest on unsecured debts like credit cards are like 25%. Sounds like the risk is properly priced in. What's your point?

	▲	AnthonyMouse 20 minutes ago \| parent [-]
		On top of that, the amount of unsecured credit you can get with no/bad credit history is more like $500 than $250,000.