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Students with no credit history and no relatives to co-sign loans (or co-signing parents with tarnished credit) were willing to bet that high-priced loans were a trade-off for a shot at the American dream. But high-paying jobs are proving elusive for many graduates.
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<p>Yep. Acquiring debt to pay for education is risky for everyone involved. </p>
<p>I noticed that at least one big lender listed in the article announced much reduced earnings today. Even with the non-discharge of private student loan debt provisions of the Bankruptcy Code, a defaulted loan is still a loss to the lender.</p>