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My take is that it's none of my business why someone would default on a loan. Anecdotally, it's mostly people that fall on tough times. Also, the job market is absolutely trash for anyone with a degree. You ever see the requirements now on Indeed or Glassdoor? Must have 20 years experience, master's degree in this thing nobody uses for entry level position. Pay is less than a McDonald's worker.
In the US, we had several older generations telling the newer generations, "Go to college, succeed, work smarter not harder" and the immense pressure to do well on the SAT's. If you didn't get a scholarship, you were kind of left with the only option of getting financial aid. Here comes Fannymac rubbing its greedy hands together by pushing legislation through the education department to take full advantage of low-income people that just wanted a better life. The terms on these loans are ridiculous. There was an alternative that if you performed service for the government (i.e. any job in public safety) for 10 years, your debt would be written off. That's gone now thanks to the same greedy butt wipes pushing these loans. Sometimes these loans get restarted even after you pay them off because a debt collector picks it up. It's not like these people are getting loans and saying "I'm gonna be smart and just not pay it." I'm willing to bet that the vast majority just wanted a piece of paper to at least get their foot in the door.
Again, the rules change for the student loans all the time thanks to greedy legislation, thus not making them normal loans. The return on investment for students taking these loans is negative because they could have bought a house with the amount of money invested into that loan out of their own pockets. My advice is for anyone going to college, network. It's not about what you know anymore, it's about who you know. Get a associate's/bachelor's/ master's degree in something easy and cheap. Hiring managers don't care what it's in as long it gets past the shitty automated HR hiring systems. From there find your career path and network some more.