The student debt problem is exploding, growing three times as fast as any other kind of debt, yet the Trump administration is making it more difficult for students to seek debt relief. Ellen Brown of the Public Banking Institute outlines the implications
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It doesn’t drag down the economy. That’s a shitty excuse for these babies that now have buyer’s remorse and don’t want to pay for their education.
The thing is, billionaires have enough money to pay for people’e tuition like sending the unfortunate to med school etcc but nothing is being done
If you ever sign a line on a legally binding instrument you accept the terms you are agreeing to.
Don't make excuses if you were willing to take the risk. If you lose, you lose. Gambling with money you don't have is a choice we decide to make as adults. If you can't handle the consequences don't take the risks.
It's not just Millennials. Older adults had to go back to school, especially women, who are also more impacted by being the "sandwich generation", and face age discrimination and lower paying jobs.
Seems like a winning issue if dems want to attract the youth vote…
https://www.forbes.com/sites/kotlikoff/2017/12/08/has-our-government-spent-21-trillion-of-our-money-without-telling-us/#45f636cc7aef
For any others who want to claim education is a drain on American society. It is nothing compared to the extension of this abuse of popular ignorance that poor educations enable. They damn us all by force and corruption of dialogue.
So basically it was a wealth transfer to the 1% in the 1970's and 80's. Higher education costs were passed on to the working and middle class directly. The money that used to pay for this was sucked up by the Military or Tax cuts. This, just like privatized healthcare, is a huge burden on the economy and makes it very uncompetitive viz other advanced economies.
Disgrace
You mean $50k in debt for a gender studies degree is not a responsible life choice? This is shocking news, SHOCKING I TELL YOU!
Abolish student debt, make college free through taxing the rich and reduce defense spending. #debtjubileenow
The rest of the world is moving away from the dollar and creating a shadow banking system to bypass US control. Maybe it's time to do the same thing domestically – a loan system that ignores student debt as if it were written off. Squeeze too tight and it runs through your fingers.
So happy to see Ellen on TRNN! Been a long time coming, please have her back on regularly! 🙂
The problem is guaranteeing near unlimited amounts of money to students caused the insane increase in the cost of education. Every additional dollar the government lends to a student is one additional dollar schools raise in tuition. They need to stop giving away money, it's caused non stop hyperinflation in the cost of education
What's available is article one section 8 of OUR Constitution states that only Congress can Mandate spending and taxation.
Federal funding for the public purpose is what has to happen.
#LearnMMT
YESSSS!!! I LOVE ELLEN BROWN! Her work in public banking has opened my eyes!