Student loans are an incredible problem in the United States. Today, $1.2 trillion in student loan debt is held by college graduates nationwide. If you graduated in the class of 2015, odds are you graduated with student loan debt. The rising costs of higher education, alongside easy access to financing, has made student loans a common tool for paying for college.
Student loan lenders have a unique business model and these lenders (including the Federal Government) will provide unsecured financing to 18-year-old college students with little in terms of credit history. This creates a moral hazard because these young naive borrowers are saddled with a lifetime of debt often without unde