The Toll of Student Debt Goes Beyond Failing to Build Wealth

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We need to kill the federal student loan program in it’s current form yesterday. We also need to allow student loans to be bankruptable. That will fix the problem over time. Schools will need to adjust to lower tuition. Maybe they could spend less on sports bullshit.


While higher income earners with big debts (MBA from harvard, med schoolers) are generally going to be fine, I still worry about the opportunity cost of people not getting medical care or not investing for the future.


People who go to college and accumulate student debt are generally the nations highest earners. I understand debt sucks but they took on this debt so they could make more money, and unless they intentionally decided to pursue a major that isn’t useful they’re making more money than their GED counterparts. I get that this sub is full of people with student debt but I’m not very concerned about this demographic


Either college is an investment that pays for itself, or its not. So either tax payers don’t need to cover the investment, or they shouldn’t be on the hook for bad investments.


Talked to a patron on here on R/economics saying that American kids who sign shitty loans to get a college education should be failures in life and saddled with insurmountable debt. Seeking education should be a potential economic minefield that damns the next decade or two of your prime working years post college in essence. I’m sure he’d elaborate on nuances of his position, but basically he defends life ruining costs from healthcare housing and education in this country. Everything in this country is becoming a trap to screw us into indentured service, and because a certain class of American voter who utterly lacks empathy for any other American outside their tribe, it is very difficult to stop this or reform it in anyway.