If Joe Biden signed an executive order tomorrow, the government won’t pay out a dime – federal student loan debt is already included in the national debt Bank loans create money, canceling banks loans simply deletes the money from existence. The only thing lost is the future interest payments the banks would … Continue reading Some claim canceling US student debt will be expensive. They’re wrong
On paper, it looks like Scott Larsen is doing better than his father was at the same age. But he’s not even close. The chances of him buying a home are very slim. The system currently extracts all the borrowing potential from the millennials through student loans that could have gone towards … Continue reading Many millennials are worse off than their parents — a first in American history
How Tennessee is making Bernie Sanders’ favorite education idea a reality. Fascinating story on free college in a primarily Republican state, what it is and how and why they did it. SPOILER … Continue reading The red state that loves free college
Federal student loans are the only consumer debt segment that’s grown continuously since the Great Recession. The next generation of graduates will include more borrowers who may never be able to repay. Source: The … Continue reading The Student Loan Debt Crisis Is About to Get Worse
Since ancient times, societies have tended to polarize between creditors and debtors, but this tendency can and must be reversed. Historical documents from Sumer, Babylonia, Greece and Rome through Byzantium provide a … Continue reading Breaking the Chains of Debt: Lessons from Babylonia for Today’s Student Crisis
“One of the questions I am asked most frequently in my global travels is what will be the cause of the next financial crisis… My answer is always the same: We can … Continue reading A new loan crisis is forming and it’s in student loan debt
College used to be affordable. Now, 44 million Americans are caught in the Student Loan Trap. Let’s set them free so that they—and all of us—can prosper. A campaign based on the … Continue reading Campaign to cancel student debt
It all became real the summer before my senior year of college. It was 2010, and my home phone still had a cord, which I wrapped around my fingers as I waited … Continue reading I’ve Paid $18,000 To A $24,000 Student Loan, & I Still Owe $24,000
A good listen where you learn: The expected effects of the new tax policy The reason why governments issue bonds instead of just printing money Why the size of the budget deficit … Continue reading Stephanie Kelton explains how the government budget affects the economy and the mechanics of student debt forgiveness
A new report finds that the U.S. could grow the economy by cancelling all student debt in the country for less cost than the GOP tax bill. Interesting. Source: Want to grow the US economy? Cancel student debt, new report shows | Mic Continue reading Want to grow the US economy? Cancel student debt, new report shows
Twenty states suspend people’s professional or driver’s licenses if they fall behind on loan payments, according to records obtained by The New York Times. Makes perfect sense… not! Source: When Unpaid Student … Continue reading When Unpaid Student Loan Bills Mean You Can No Longer Work
What role do student loans, budgeting and salary play in the millennial generation’s struggle to become financially solvent? And just what can be done to decrease this debt? To answer those questions … Continue reading Average Millennial 35 and under, $82,500 in debt
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