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>the solution, in part, has a simple policy component: declare jubilee on all federally-originated student debt Unfortunately this is a pretty terrible idea. F

>the solution, in part, has a simple policy component: declare jubilee on all federally-originated student debt Unfortunately this is a pretty terrible idea. First of all it would cost about $1.4 trillion and second it benefits the already better off in society. [1] Not only do the children of wealthy parents have disproportionally more student debt, they're also far better equipped to actually pay it off. A trillion dollar welfare plan which gives money to Sandra A. who went to Wellesley but not to Sandra B. who only has her GED doesn't sound that great. It'd be better just to spread it out evenly. [1] http://mattbruenig.com/2012/08/10/student-debt-disproportionately-burdens-the-well-off/ http://mattbruenig.com/2012/08/10/student-debt-disproportion...

taurath 8y ago
The kids of the better off have more debt because they can afford to take it on in the first place. Those from worse families financially are likely more avoidant of debt.
- inetknght 8y ago
  Unless those from worse families are told constantly that the only way they can make it in life is to graduate from college.
  - taurath 8y ago
    I don't think thats the case, within the families. My experience is that parents who don't have college degrees are much less likely to financially support and/or push for college for their children. The idea that the only way to make it in life is to graduate from college is a societal view. Now you'd think that someone who didn't graduate college would see its value, but they're probably less likely to be able to help their kids financially (especially in the middle-area where the parents make too much for the kid to qualify to student aid, but not enough to comfortably afford it). Also cultural differences - conservatives are pretty unlikely to want their kids to go to a "liberalizing" college institution. "First generation" college students also go to 2-year colleges at a far higher rate, and are far less likely to go to a private college than students who's parents completed college, and were also far more likely to drop out because of economic reasons. 33% drop out within 3 years vs 14% of those with parents who went to college. https://www.insidehighered.com/news/2018/02/08/students-postsecondary-education-arcs-affected-parents-college-backgrounds-study https://www.insidehighered.com/news/2018/02/08/students-post...

taurath 8y ago

The kids of the better off have more debt because they can afford to take it on in the first place. Those from worse families financially are likely more avoidant of debt.

inetknght 8y ago
Unless those from worse families are told constantly that the only way they can make it in life is to graduate from college.
- taurath 8y ago
  I don't think thats the case, within the families. My experience is that parents who don't have college degrees are much less likely to financially support and/or push for college for their children. The idea that the only way to make it in life is to graduate from college is a societal view. Now you'd think that someone who didn't graduate college would see its value, but they're probably less likely to be able to help their kids financially (especially in the middle-area where the parents make too much for the kid to qualify to student aid, but not enough to comfortably afford it). Also cultural differences - conservatives are pretty unlikely to want their kids to go to a "liberalizing" college institution. "First generation" college students also go to 2-year colleges at a far higher rate, and are far less likely to go to a private college than students who's parents completed college, and were also far more likely to drop out because of economic reasons. 33% drop out within 3 years vs 14% of those with parents who went to college. https://www.insidehighered.com/news/2018/02/08/students-postsecondary-education-arcs-affected-parents-college-backgrounds-study https://www.insidehighered.com/news/2018/02/08/students-post...