Hi Guys,
Just read this headline and to be honest i didn't read the whole article because the headline is enough. (OK, i read a few lines)
1.6 trillion USD can't be whipped out just like that. His arguments are correct, that the young generation will be more in debt than their parents were, but that was the plan all along. The plan of the bankers and the Universities. Even in the UK education prices have escalated to amazing highs and not just the famous universities but also the less known ones. everyone wanted a piece of the pie.
Who is paying for it?
As it stands the government will which means that the taxpayers will. Because so few of the students actually pay back the full amount it is not even funny. only 15% pay back the full amount. this is the reason why the student loan debt is so high not just the USA bu also other parts of the world.
there is a need for a new system no doubt. youngsters are forced to get a higher education, because otherwise they won't get a good job.
But think about what we are being though - having a mortgage is a burden, being in debt is not a good feeling. And then here comes the education system which, by the time you finish your studies, forces you to be in debt of a considerable amount from 25k upwards. it is a smart thing to invest in your education but that has to be done in a different environment.
Sanders is now looking for votes so he can run for president.
Any thoughts?