Did you know that not only do the regulations
explicitly1 not do such a thing, but that loans originated from CRA-compliant banks were
less likely to be high-cost (which I'll grant you is not synonymous with subprime, but subprime loans are always higher cost) and more likely to be kept on the banks' own balance sheets? (Which indicates more confidence in a loan's value than securitizing or otherwise selling it.) What's more, banks subject to CRA oversight originated less than 25% of loans in the areas studied. If you have contrary evidence to suggest that the CRA led to an increase in risky loans, please provide it.
Now, telling me that some degrees are more likely to get you a job is fine, if completely obvious, but it doesn't change the fact that employment rates have gone down for all degrees, even the ones with "value." I couldn't find comprehensive nationwide data, so I just grabbed what I could for management grads from my alma mater, Western Washington University--which is, as it happens, a moderately-priced, in-state public university. (Which of course are now less moderately-priced than they used to be, owing in large part to deficits fueled by tax cuts for the much-maligned 1% and the recession they helped create.) Given the small sample size, the data in the attached pic are of course subject to all the usual caveats, but they illustrate the point nicely. It's in chronological order, 06-07 grads at the top, 09-10 at the bottom.
Regardless, my point was not to complain that he may have a well-paying job set up and therefore not understand the hardships--if he does, good for him--but that like so many others, he may very well not, despite all that hard work.
1: See subpart B, section 345.21, paragraph d, "Safe and sound operations"
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