[Mendacious]

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Or maybe they should just forego the loan contract altogether and just give away all the money to anyone for any reason.

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Loans are made semester-by-semester. They are dependent on the student staying current on bills and on passing classes. That's the ONLY interest government should have in the matter, IMHO.

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Not so sure about staying current on bills, that would be news to me, but in any event, that is short-sighted. These loans have to be self-sustaining over time. To the extent that the default rate goes up, it harms the ability of the program to loan in the future.

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If students gamble it away, they'll only hurt themselves, as they will have to repay their loans with interest. The system protects itself without demanding students account for every dime.

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Again, short-sighted, in order for the program to be viable, it is imperative that an excessive number of students do not default-- and politically speaking it is pretty significant that they not default because they are gambling away their loans.

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Frankly Engineer, I thought you were a little smarter.

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Now you're going to insult people who disagree with you? Frankly, you sound like one of the prohibitionists, arguing that adult college students cannot control themselves, and therefore require the federal government to do it for them. Sorry, but if they're old enough to die in Iraq, then they're old enough to handle their loans.



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Pretty sure you started the insults Engineer with your sarcasm and totally inappropriate comparisons to Stalin etc.


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It would be pretty stupid and irresponsible to ignore this as an issue if in fact it is prevelant.

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You sure do like to call people stupid. Also, you're using a Spencer Bachus-type argument in that you state the worst case, with no evidence of it being an issue, then put the onus on us to show that it is or isn't an issue.

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Not really, I was responding to OP's original statement that this IS a problem. Assuming it is, I suggested it would be BAD for poker, and BAD for student loans generally, and should be addressed in the loan contract.