Thursday, September 15, 2011

Grotesque Illustration of the Student Loan Bubble, Plus Thoughts on Student Loan Forgiveness and Bankruptcy Protection Rights

Over at the Reformed Broker, there are illustrations of the student loan bubble. They are grotesque! That's why we need our leaders to take immediate action, and we them need to come up with a multi-solution approach that will include loan forgiveness, the restoring of bankruptcy protection rights, and more. Those are the obvious approaches. First, we need to help current borrowers. The policymakers need to stop conflating us with prospective and/or current students. It's not the same. But if we are somehow granted a debt jubilee, we also need to think about those who come after us. We need to ensure that future generations won't be thrown into a similar system. That means we need to overhaul higher education and remove it from the market system. Higher education must become a public good again. Higher education is a fundamental pillar to democracy. We need to stop thinking of it in terms of its "value" in the market system. That has degraded its intrinsic values, and how it plays an integral role in shaping a healthy, vibrant, and open democratic system. That debasement of higher education needs to change.

Related Links

"Yes! Go Dean Dad! - Remarks About A Student Loan Stimulus," AEM (Sept. 14, 2011)

"The President's Speech On Jobs, And My Call For Him To: "Go after Wall Street -- Go after Wall Street now!," AEM (September 9, 2011)

"Part II: AEM's Work On The Hill," AEM (September 8, 2011)

"Now Is The Time To Invest in CURRENT Borrowers," AEM (September 1, 2011)


Higher Education Finance Reform: Accomplishments + Multi-Solution Approach to Truly Tackling the Student Lending Crisis

Brief History of All Education Matters


Anonymous said...

Great Post Cryn!

After reading it, I am thinking about Alexis De Tocqueville's Democracy in America.

The democratic, and, parallel, Capitalistic, marketplace seems to push everything else that can be said to be societal, or cultural....


Or maybe evolved into that over time, as Tocqueville said would happen.

Man of Hope said...

This is an area of troubling concern and you highlight it with clarity. Nicely done!