Young Americans blame SCOTUS, GOP for unforgiven student loan debt
BeautifulMind ♾️ @ BeautifulMind @lemmy.world Posts 24Comments 449Joined 2 yr. ago

BeautifulMind ♾️ @ BeautifulMind @lemmy.world
Posts
24
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449
Joined
2 yr. ago
I think they're right to blame SCOTUS and the GOP for the debt forgiveness
politicsruling, because that's 100% down to the GOP needing people to feel pain when there's a democrat in the oval office.And yet, I think it's worth realizing that debt forgiveness is a patch to a prior problem that was also created by gross political fuckery. For example, when the boomers went to college (in the 60s and 70s) public colleges were broadly well-funded and tuition for them was low enough that it was possible to work part-time for minimum wage and get through school without lots of debt. But then, desegregation happened and those schools could no longer discriminate on race- and through magic coincidence (cough cough racist state governors like Reagan) state university systems saw funding cuts and increases to tuition (which effectively discriminated by pricing poor and minority folk largely out). By the 80s and early 90s, when folks like Clinton saw that college financing was the new segregation, the 'solution' was to make college loans effectively universally available (but as a sop to the lenders, make the loans federally backstopped and impossible to discharge in bankruptcy). When lots of easy money suddenly became available to students, universities did things (like hire legions of MBA/Administrators to farm that windfall) that turned higher ed into an evil growth industry built at least in part on debt bondage.
TL/DR; student lending and forgiveness is just a patch on problems created by the last solution to problems caused by racism