Competition: Find the craziest graph that shows how bad the student debt crisis really is
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If this were a revenue graph you could raise a VC round based on it. But it's student loan debt.pic.twitter.com/2mVf5E0J8D
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Here's a winner. Student loans as a percentage of federal assets. Hint: it's nearing FIFTY PERCENTpic.twitter.com/5Lu4ZqyGNf
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African Americans that went to college in 2003-2004 are experiencing a SEVENTY PERCENT default ratepic.twitter.com/05M9NP1yn0
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Don't forget: this is one of the only debts that has ever existed that you cannot bankrupt your way out of
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Question: Will the federal government just forgive all of the student loan debt? Answer: what do you think?pic.twitter.com/kA5UsdhLYZ
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Don't forget the impact flows over to the rest of the economypic.twitter.com/SJgACZBTXi
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Look at how the debt is shifting from just young people to older folks that should be retiring. Courtesy
@upfinacompic.twitter.com/Wl68te903U
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Future historians will write a book* on the collapse of the second globalization from the FRED charts alone. *on vellum
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...because the arguments against allowing discharging student loan debt through bankruptcy, for example, are things like "it will send students the wrong message" meanwhile those of us who are now overburdened from decisions we might not have fully understood (2)
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...at age 18 feel like we will never be able to claw our way out. It's not just about bailing us out: give us the option to unburden ourselves AND reform the loan system. Properly fund state colleges so their tuition rates make sense and require students to borrow less.
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There are just so many losses to the overall economy/country in exchange for not "sending the wrong message" to people who borrowed in order to pay for the higher education they were told was required to find a good job. Meanwhile, bankruptcy can still discharge credit card debt.
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The economy is suffering bc we can't afford to buy houses, cars, etc. or have as many children/any children at all - or if we do, wait until we're much older (meaning less people to pay into Social Security of future retirees/waiting longer for them to start working to pay it).
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I feel bad "liking" any of this, but as someone with a crushing amount of student loan debt keeping me from doing things (like getting married), I'm just happy when anyone brings awareness to this crisis - especially how it hurts the larger economy overall (1)
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