Features of Legal Provision of Personal Security of American Students in the Financial and Economic Sphere

The paper presents the results of a study of the main General features of ensuring personal financial and economic security of students and graduates of universities in the United States in the process of paying educational and mortgage loans, as well as employment in modern crisis conditions, aggravated by the coronavirus pandemic. The subject of the research is the relations that arise in the process of implementing civil law relations between banks and University students (graduates) on educational and mortgage loans that adversely affect the personal security of students in the financial and economic sphere. During the research, logical, analytical, historical and legal, empirical, strategic management, instrumental and other basic methods of cognition of objective reality in the legal field were used. Scientific novelty of the study was innovatory approaches to ensuring the personal safety of students (graduates) of the universities in the economic and financial environment, the results of which were the following key findings, according to which, first, in the United States over the past decade have in fact a certain kind and a very dangerous symbiosis between financial and educational institutions, which leads to a permanent increase in the cost of payment for the provision of educational services and, as a consequence, the increase of banking services on educational loans; secondly, over the past few decades in the industrialized countries of the world, applying the model of lending studied in this paper on the example of educational loans, on the one hand, allowed a large number of people to feel more secure, becoming more interested in consumer and mortgage lending; on the other hand, the illusion of security and solvency has led to the actual enrichment of credit institutions (first of all, the banking system, as well as bondholders and other creditors), but not for debtors, and, third, in the current conditions, those individuals who previously for many years referred to themselves as the middle class, today found themselves in the composition of the heavily indebted working class; as a result, the number of potential risks of threats to personal security in the financial and economic sphere for the basic part of the population of these States and, above all, for students and graduates of higher education institutions has increased dramatically.

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