Student financial aid fell almost half ($85 to 46 billion) from from 2017 to 2018 by Dept of Education. Are we investing less in education, or was financing shunted to private lenders? https://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/mts0918.pdf …
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Investing less.
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Less R&D, education, & infrastructure. This is economic suicide.
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What do you think would happen if US forgave all student loan debt? Do you think it would cause a crash? Act as a massive middle/lower class tax cut?
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I think it would be really unfair to all the people who dutifully paid off their loans all these years.
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Sure but so are massive tax cuts for the wealthy. Hard to have it be fair for everyone. I feel like it is massively important for the long term health of our economy to restore buying powering to the middle class.
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Particularly onerous is that DoE website dropped their online database of student loan performance by college, which showed that many for-profit colleges had obscene default rates (25+% w/in 3 yrs).
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Although student loans are unsecured debt, since they usually can't be wiped away with bankruptcy, I'm not sure why they should have a much higher interest rate than mortgages.
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I would really like to see this in a different context. Total debt $ per household maybe - with mortgages starting out as waaay higher than student loans. The scale and starting point here seems really potentially misleading.
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And with numbers starting earlier. Starting in 2007 (when mortgage debt was artificially high) gives skewed results (imo)).
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Looks like we need more upper class tax cuts
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