Please sign the petition

http://www.causes.com/causes/271251-stud...ns/1682512

Yeah...

Good luck with that.

Well I will play Devil's Advocate here. Banks and lending institutions that are put at more risk (offered bankruptcy) will now make it harder for students to get a loan. Banks will start treating it like a car loan or a house loan.

So, imagine your interview with a loan officer:

1. Your credit is just not good enough. Yea, I know you are 18 and haven't built any credit but it just isn't worth our risk.
2. Parents as a co-signer....sorry. You come a lower socio-economic background and their credit sucks....not worth our risk.
3. What are you going to major in? French Literature? Nope. How about Engineering? Better chance for us to make our money back.
4. Change your major after we give you a loan and do not get our approval? You are in default and must pay the balance now.

Now, do I agree that there are institutions ready to throw money out there? Yep. Have schools taken advantage of it? Sure. More students means more money for institutions. No bankruptcy protection helps banks out.

But let's be honest here. Yes the economy has soured. We have a large student population. Our education standards have dropped. But the biggest problem is we have more and more students not working,taking out loans, and getting degrees in feel good subjects that will not lead to a job path that will ensure they can make a decent living, let alone pay back those loans.