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We are all peasants now: The student-loan crisis is destroying the middle class
- Wildgoose 8y agoIt's a one-way bet for the Education Industry because these massive loans can't be discharged by bankruptcy. We have similar problems (thankfully not yet as bad) here in England. If the pieces of paper they are peddling are truly a gateway to a middle class lifestyle then surely the Education Industry would be happy to provide them in return for a fixed percentage of the above average wages that their recipients will be gaining? And if not, why not? As always, Incentives Matter. We need incentives to provide the best education at the cheapest cost. The Education Industry is ripe for disruption.
- sarcasmatwork 8y agoLots are sucked into the idea that a good education will get you a good job. WRONG! Maybe a job for the rest of your life, but who wants to work for someone else till you die? Student loans is big biz, and the govt makes lots of money from it. It's insane!