<p>Lerkin, don’t misunderstand me. I agree with you.</p>
<p>However, unethical lending practices got us into the most recent economic debacle, and I don’t know exactly why we ought to believe that the same population who believed it was a good idea to borrow the entire amount to buy a house is going to see the foolishness of borrowing all that money for an education.</p>
<p>Also, and here is where I, personally, think it gets really tricky. When kids are presented with financial aid packages, and I did not know this until I started to have the finaid posts pop up in the front and opened some up and read them, they are presented with LOANS, above the stafford loans, as if this is financial AID. So, I question the full understanding on this issue.</p>
<p>Should there be a full understanding? Sure. But, should there be consumer protection in place, also? Absolutely. We have laws against loan sharking for a reason. There should be laws to protect the lenders, and it isn’t easy to go bankrupt. It’s not just something someone does without consequences, either. Regulation should protect both sides of the equation, not just one.</p>