3 ms·
The decision to invent a new special type of debt for student loans was a political decision made by our representatives. To the extent that the voters/taxpayer
by bee_rider 8mo ago
The decision to invent a new special type of debt for student loans was a political decision made by our representatives. To the extent that the voters/taxpayers are responsible for anything: this is our shared mess.
I mean, the whole premise of representative democracy is that we’re responsible for the messes we send representatives to make. If we don’t want that responsibility, I guess we’d have to look at alternatives to representative democracy, but that’s a pretty big topic.
- sejje 8mo agoI accept responsibility, let's fix it.
- bee_rider 8mo agoI’d probably pause loan repayments (no need to dig a deeper hole), make student loans dischargable via bankruptcy, wait a bit for the market to figure itself out. Once we’ve figured out what the value of each degree is, we can refund the difference to everyone who’s paid. There’d be a bit of fudging as we’d need to adjust for inflation and the reputation of colleges fluctuate over time, but this seems like the fairest way to do it.