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In reply to the discussion: RULING ON LAW SCHOOL GRAD'S DEBT MAY SIGNAL 'SEISMIC' SHIFT IN LOAN PRACTICES [View all]JustAnotherGen
(31,810 posts)2. I wonder what it looks like on paper
When you sign the paperwork?
I wonder how the ratings agencies rate these loan products?
Who is insuring them if not the Fed Gov (they shouldn't be). Please don't be AIG again.
Why no collateral? Does Citibank even have the original loan paperwork anymore?
I'm convinced (not a financial wizard) that there are a lot of "student loans" that look like this and a lot of people who can't keep their heads above water trying to pay them. I'm convinced - the investment banks are running a scam again. There has got to be some way they make money every time a recent grad defaults.
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RULING ON LAW SCHOOL GRAD'S DEBT MAY SIGNAL 'SEISMIC' SHIFT IN LOAN PRACTICES [View all]
Liberal_in_LA
Mar 2016
OP
I can't see where Citi has a leg to stand on here, frankly, but I agree this is a narrow part
Recursion
Mar 2016
#8
Blessing in disguise? I was all set for law school but was informed that
Land of Enchantment
Mar 2016
#28
They sell these law school candidates on the $130,000 start and $40,000 bonuses at
alcibiades_mystery
Mar 2016
#11
Furthermore, once upon a time it was possible to work your way through school
groundloop
Mar 2016
#17
Right...they don't get to mitigate their risk BOTH with higher interest AND non-dischargability!
alcibiades_mystery
Mar 2016
#13
Next financial bubble to burst: student debt credit default swaps.
Dont call me Shirley
Mar 2016
#30