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Student loan debt is a crushing problem in America. Over 44 million people have such loans, with an average balance of about ,000 — making for a total debt pile of .4 trillion. Unsurprisingly, people often struggle to repay these debts with their entry-level wages after graduating. Student debt is now the most common form of troubled debt, with about 11 percent of them 90 days or more delinquent. Worse still, thanks to Republicans and neoliberal Democrats alike, they are almost impossible to discharge in bankruptcy.We should try the most obvious solution: Congress should cancel all the debt and have the government pay back the lenders. Perhaps that sounds radical and unworkable. But a new Levy Institute research paper by Scott Fullwiler, Stephanie Kelton, Catherine Ruetschlin, and
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Mike Norman considers the following as important: Catherine Ruetschlin, debt cancellation, Marshall Steinbaum, Scott Fullwiler, Stephanie Kelton, Student debt
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Student loan debt is a crushing problem in America. Over 44 million people have such loans, with an average balance of about ,000 — making for a total debt pile of .4 trillion. Unsurprisingly, people often struggle to repay these debts with their entry-level wages after graduating. Student debt is now the most common form of troubled debt, with about 11 percent of them 90 days or more delinquent. Worse still, thanks to Republicans and neoliberal Democrats alike, they are almost impossible to discharge in bankruptcy.We should try the most obvious solution: Congress should cancel all the debt and have the government pay back the lenders. Perhaps that sounds radical and unworkable. But a new Levy Institute research paper by Scott Fullwiler, Stephanie Kelton, Catherine Ruetschlin, and
Topics:
Mike Norman considers the following as important: Catherine Ruetschlin, debt cancellation, Marshall Steinbaum, Scott Fullwiler, Stephanie Kelton, Student debt
This could be interesting, too:
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Student loan debt is a crushing problem in America. Over 44 million people have such loans, with an average balance of about $30,000 — making for a total debt pile of $1.4 trillion. Unsurprisingly, people often struggle to repay these debts with their entry-level wages after graduating. Student debt is now the most common form of troubled debt, with about 11 percent of them 90 days or more delinquent. Worse still, thanks to Republicans and neoliberal Democrats alike, they are almost impossible to discharge in bankruptcy.
We should try the most obvious solution: Congress should cancel all the debt and have the government pay back the lenders.
Perhaps that sounds radical and unworkable. But a new Levy Institute research paper by Scott Fullwiler, Stephanie Kelton, Catherine Ruetschlin, and Marshall Steinbaum demonstrates that it would be easily affordable and have powerfully positive side effects....The Week
The case for erasing every last penny of student debt
Ryan Cooper