Going to college didn't make me a liberal, but generational student loan debt helped make me a socialist.
@britvulcan Yep. Student loans don't survive the borrower, but their impact on the borrower's accumulation of wealth (home equity, etc) sure do.
Yeah. Both of my parents had intense student loan debt which severely impacted our income mobility. But I'm also talking about Millenials as a cohort here where almost all of us have at least 10k in debt when we graduate and more often closer to 60-100k. This debt is impacting an entire generation like it did my parents and pushing us into poverty and insecurity since the social safety nets are worn thin unto tissue paper - 1/2
@naga The only corrective I can see is socializing basic social services of health, education, housing, and possibly income in some way. We've proven supply side economics doesn't work. It's time to try MMT and demand side econ. - 2/2
Ah, I misunderstood what you meant by generational debt. And I totally get you on the burden. Jalan has over 250k in student loans. We will be paying them for her entire life. And lucky if we can ever buy a house.
Interestingly my dad managed to get his dismissed in federal court (pro se/sans lawyer even) by showing he could never pay them off. Might be worth a shot. But honestly I think advocating our national reps to just forgive these debts and fund education is a better long term play.
@britvulcan Yeah. There's a forgiveness scheme in the income-contingent repayment plans after a certain number of years, but even assuming those survive DeVos, I *think* the forgiven amount is taxable income that year. Gah.
I should have written "dismiss/discharge " since I don't think it's remotely fair for the taxes on these loan forgiveness plans to be a thing
In our case, most of the forgiven amount will be capitalized interest from when she was not making enough money to make payments on the loan. Gah.
A community centered on the Twin Cities of Minneapolis and St. Paul, Minnesota, and their surrounding region.
An alternative to social networks that connected people in the region that have either died away or driven people off with unethical or anti-social policies.
MSP Social is a noncommercial community service, hosted and administered by @lawremipsum. Users should not feel obligated to contribute financially to the project. But contributions to defray server costs and/or for possible future expansion are welcome at Patreon, Liberapay or via PayPal to lawremipsum at gmail.
We financially support local community-oriented organizations. Currently, we support WedgeLive and Neighbors for More Neighbors. Future support of community-oriented organizations will be determined by accountholders, donors and the admin, and is likely to be focused on groups that advance the values of the donors and encourage underrepresented voices in community and urban planning spheres.
If you're a current Twitter user, here is a tool that can help Twitter friends find each other on Mastodon.