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Thread: economics homework.... HELP!
  

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  1. #1 Question economics homework.... HELP! 
    dmplz7 Guest
    Question economics homework.... HELP! – 02-02-2003,01:26 PM
    someone please help me! here is the question (i've been reading my text book all weekend and i still don't understand!)

    > Before there were federally supported loans to students from the govt, it was almost impossible for students to borrow money from banks on the promise to pay out of future earnings. How does the concept of property rights help explain this?

    i just don't understand how property rights fits into this. someone please help!

    DMPLZ
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  2. #2  
    SledDog Guest
    02-02-2003,06:25 PM
    I guessing, dimps, but it may be related to the fact that banks would make loans based on the collateral provided by the ownership of property (be that land, a house, a car, or anything else of resellable worth) which would ensure that if the borrower defaulted on the loan, the bank would be entitled to sell said collateral property to recoup their loss.

    Banks just aren't as trusting as the government that your education is going to lead to a good paying job and that you'll actually repay them...
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  3. #3  
    dmplz7 Guest
    02-02-2003,10:14 PM
    ooooooooooh...... ok i get it now! thanx balto you're a lifesaver!
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  4. #4  
    SledDog Guest
    02-02-2003,10:33 PM
    My pleasure, little angel...

    Young students typically don't own much of anything that a bank would consider as collateral against a loan, therefore it always fell to the parents to put up something of monetary value to guarantee things. If mom and dad never owned a home and only rented an apartment, you were kinda hosed...
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  5. #5  
    dmplz7 Guest
    02-02-2003,10:51 PM
    balto, seriously, you have no idea how much you helped. i've been trying to figure that out all damn weekend! thanx so much!

    > off-subject... i didn't know you're from chicago?! me too!
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  6. #6  
    SledDog Guest
    02-02-2003,11:18 PM
    Originally posted by dmplz7
    balto, seriously, you have no idea how much you helped. i've been trying to figure that out all damn weekend! thanx so much!

    > off-subject... i didn't know you're from chicago?! me too!
    LOL Yup, a little ways west of O'Hare. I've been trying to figure out exactly which yuppie area you're referring to, as it could be one of a few, depending...

    Glad to have helped. Sleep well, little angel...
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  7. #7  
    dmplz7 Guest
    02-03-2003,10:00 PM
    oh, i'm a few minutes from the lake, north of lincoln park.
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