3 ms·
yah, immunity from bankruptcy is the original sin of student loans. it’s literally what drove hyperinflation in higher ed.
by clairity 5y ago
yah, immunity from bankruptcy is the original sin of student loans. it’s literally what drove hyperinflation in higher ed.
- romwell 5y agoI just like how it was passed in 1976 by the Nixon administration just as the proportion of Black students in universities was exploding (from 1960 and 1975, Black enrollment in higher education increased at a rate 3.5x of total enrollment growth; the legislation was introduced in 1975), and soon after, the number of Black students enrolled started dropping[1]. The proportion stayed low for about 20 years. The "original sin" in 1976 was just one of many acts of legislation that were "compensating" for the Civil Rights reforms by cutting down the funding available to Black students. It's amazing how little one has to peel in all things that suck in the US to find racism behind it. And now all of us are screwed. [1]https://journals.iupui.edu/index.php/muj/article/download/20252/19848/0 https://journals.iupui.edu/index.php/muj/article/download/20...
- clairity 5y agointeresting, i didn't know about the racial angle, but it's thoroughly unsurprising to hear.