People next to me in the hotel suggesting that Mackenzie Bezos give away her fortune to “wipe out” student loan debt. If she gave away ~half of her net worth ($18 billion) it would eliminate approximately 1.13% of outstanding student loan debt.
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Curious how much of the student loan crisis is rooted in low wages that lead to inability to pay back loans. In addition to free tuition and living stipend, offer temporary loan help. Increase the ISA to compensate. Know it’s insanely more difficult than that, but doable?
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If it's truly federally backed, and given the high default rates, it seems like we've found the worst way to pay for universal education
End of conversation
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The free lunch is a non-dischargeable note paying 7%. If they were priced appropriately to risk in 2019, they'd carry a negative interest rate.
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Imagine borrowing against students' future tax contributions at 0% to fund loans to those same students at 7% and then complaining that it is so unfair that they might not pay the full amount. It's not the students who are in bankrupt in this scenario.
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Why, it’s the taxpayers as usual
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