Reagan's policy of starving education & cranking up student debt has made US banks piles of money, but stopped generations of young people from starting businesses, having families & buying homes
I am one of the huge numbers of G.I.s that serviced and received a college education. It made all the difference in my life. I became a college teacher, and I had a good life. Financially, I was able to have a family, built a home, rear three daughters- a teacher, a lawyer and a Librarian -and give back to our society. I don't think that I would have been as happy without the opportunity given to me. As I approach my 90th birthday, I realize how lucky I was. I say wipeout all the debt, and let the young go to work.
Student debt forgiveness will be incomplete unless they include private student loans. Millions of students took these out and are still saddled with them, as banks sell the loans to collection firms.
An admission: I have said aloud on several occasions that I would be happy to become a victim of identity theft. The only thing my identity has to offer is many tens of thousands of dollars in student debt.
Please. I'd be happy to part with my "identity".
Excellent piece which only leaves out the failure of Democrats to do anything about it. Biden has done some neoliberal student debt relief for the disabled and has reversed the Trump administration's betrayal of students who were ripped off by shady institutions, but that comprises about 0.001 percent of all student debt which does not make a dent in its socioeconomic impacts. Yes Reagan started it but Democrats could do something about it but seem as disinterested as the Democratic majority that just voted against Medicare for All in California.
I read in Raw Story today where Alabama's legislature has introduced a bill to strip all state taxes from public schools and give the money to the child's parents. The objective, of course, is to establish Charter and various other forms of for profit institutions.