I support a forgiveness plan for a huge chunk of student loans. Young people should be buying homes, starting families and starting businesses and not trapped in their parents’ basement paying off phantom loans for years. It’s a better stimulus than shoveling money to banks.https://twitter.com/samswey/status/1105694640735428610 …
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We are up to $1.5 trillion in school loans up more than 15x from 1999. Default rates are rising and bankruptcy doesn’t give you a way out due to bank lobbying. College has risen in cost 250%. The system has become a crushing burden on many. Something has to be done. I’ll do it.
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Replying to @AndrewYang @andrewyangvfa
Root cause is the absence of risk for banks as lenders and colleges as recipients. Paying off loans still amounts to a bank give away but won't do anything to address problem in the long term. It validates the bank strategy. Make bankruptcy give a way out like with any other loan
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Replying to @_StevenFan @andrewyangvfa
Or make it so colleges can't get all their tuition from loans but also from hypothetical future earnings so college and student incentives are aligned. Our education system serves the economic purpose of job training [as opposed to a liberal education] and should reflect that.
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Or have colleges provide income statistics for students graduating with their degrees. Colleges need skin in the game.
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"Nasty little Buddhist"
Seeking via neuroscience and psychology informed dharma.