Why do we have a public education system? Why have youth gain college educations? We have forgotten the basics because of an obsession with money, specifically “not paying” for “socialism.” I do some venting on this theme in this latest article.
Beggaring Student Life
Recalling William Somerset Maugham’s account of his flight from France in 1940 led me into a reflection of the corrosive barrenness of the Libertarian view, as championed today by Ron Paul, a contender for the Republican presidential nomination.
Letter #2, “Being Attentive”
[An Issues Update, from MG,Jr]
“Student Debt Could Be Next ‘Bomb,’ U.S. Bankruptcy Lawyers Say”
A spate of news stories today describe the situation of burdensome student loan debt; an association of bankruptcy lawyers has issued a report recommending debt relief.
I would like to assume my two articles (one with a sample letter to a congressman/congresswoman) on the subject were helpful straws on Ebenezer’s back, as regards student debt relief.
Beggaring Student Life
16 January 2012
A National Students’ Recovery Bank
21 November 2011
I had commented on the disparity between giving the Wall Street banking speculators debt relief while denying it to students, in my article tracing the emergence of the Occupy Wall Street movement out of the wreckage of the shattered post-WWII social contract in:
From Social Contract To Occupy Wall Street
7 November 2011
In this last article I cited Petra Cahill’s article on student debt, and the strong sentiment among students caught short by the economic collapse, for debt forgiveness:
Another Idea For Student Loan Debt: Make It Go Away
by Petra Cahill
Here are some of today’s (February 8, 2012) news accounts of the new developments:
There is currently legislation to address student debt issues including a House bill dubbed “Private Student Loan Bankruptcy Fairness Act” and a Senate bill “Fairness for Struggling Students Act.”
William Brewer Jr., president of the National Association of Consumer Bankruptcy Attorneys, offered a warning.
“Take it from those of us on the frontline of economic distress in America,” he said. “This could very well be the next debt bomb for the U.S. economy.”
So, how’s that idea of loading up college kids on student debt working out? Let’s put it this way: The National Association of Consumer Bankruptcy Attorneys has been moved to publish a report entitled, “The Student Loan ‘Debt Bomb’: America’s Next Mortgage-Style Economic Crisis?”
The average amount of student debt is just over $25,000. And, the average amount of college loan debt taken on by the parents of students is $34,000. My prediction is that any candidate for the presidency who bucked the big capitalists (the Citizens United bunch that pay for election campaigns) and declared himself in favor of a student loan bailout would sweep the popular vote. It is my guess that none of the present bunch of contenders has the moxie to make such a declaration, the Republicans are too anally retentive greedy, and the Democrats are too wimpy chicken about losing patronage.