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Honest Gift to Pay Loans Neglects Duty to Students' Best Interest: A Lesson in Fiduciary Duty
Fiduciary News; registration may be required
[Opinion] May 29, 2019
"[F]orgiving college loans can neglect the students' best interest.... [E]ven when done with the best intentions, making life easier for others doesn't always run consistent with the fiduciary duty to look out for their best interests. Unintended Consequence #1: It may overshadow the real issue of college debt ... Unintended Consequence #2: It may enable a tendency to take on personal debt in other areas ... Unintended Consequence #3: It removes a worthy incentive to excel independently (and other positive life enhancing financial behavior)."
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