One of the things Obama and McCain both seem to be avoiding in their handling of the financial crisis, is criticism of the throngs of dishonest Americans who lied on their mortgage loan applications. Perhaps they don't want to alienate so many potential voters...
Loan application fraud for Federal programs such as student loans is a growing problem. I suspect that it will only get worse as times get tougher. It seems that any bailout solution has to deal with this issue as well.
What do you think?
What should the maximum penalty be for lying on a student loan application to make your self look like a less risky borrower?
1) Nothing - It's not a big deal
2) Loss of / immediate repayment of loan
3) Fines
4) Jail
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