Danny Newton

Got Bubonic Plague? Get More Rats

Why didn't the National Defense Scholarship loan program produce a similar problem? These loas were at about half of the going rate and payment was even deferred. I realize that the magniturde of the loans was below this housing situation and that assuming the recipient actually graduated, there was a good chance of eventually recovering the money. Maybe it was not poisonons enough to cause a problem but the government did step in and end the abuses. Sixty Minutes ran a special on how people took the money and ran. I suspect that the failure of this debacle created boldness for the bigger and similar home ownership push on easy creditWhy didn't the National Defense Scholarship loan program produce a similar problem? These loans were at about half of the going rate and payment was even deferred. I realize that the magnitude of the loans was below this housing situation and that assuming the recipient actually graduated, there was a good chance of eventually recovering the money. Maybe it was not poisonous enough to cause a problem but the government did step in and end the abuses. Sixty Minutes ran a special on how people took the money and ran. I suspect that the failure of this debacle created boldness for the bigger and similar home ownership push on easy credit.