A non-profit organization dedicated to the eradication of all student loan debt through activism, education, and legislation; because student loan debt is dangerous to the US economy and to the health and well-being of individual Americans and their families. CRYN JOHANNSEN, Founder & Executive Director
3 comments:
I'm deliberately not looking this up to formulate an answer, because left to my own devices (by which I think I'm smarter than your average bear), I can come up with no valid geopolitical drivers of student loan debt or the policies surrounding it. More pointedly, there is no justification for the debt regime that is in the US but absent from pretty much every other industrialized country with an educated populace.
I'll bite. Student loan debts account for 45% of the federal government's financial "assets." Except they're not assets, they're liabilities - the liabilities of all of society, because they are (Direct loans) or will be (FFELP guarantees) financed by sovereign borrowing. Student loan debt bleeds the debtor today, but the federal government does not use student loan payments to reduce the indebtedness the government incurred to fund the Direct loans to students or to fund paying out on FFELP guarantees. (Also, c.f. the SLABS on downgrade watch.)
Student loans are a ponzi scheme. Generational theft. Is the 'full faith and credit' of the United States a geopolitical issue? I would say, "yes." Watch those sovereign bond yields lest they go all Greek on you...
I think that students really shouldn't have to worry about their finances in such a big way right off the bat. They need the education yes, but not all the debt that comes along with it!
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