Student Debt

The Benefit Of Student Debt.

Why is America the only place in the world where students go into debt? The reason is it benefits the people who lend the money, the bribers. Student Debt has been railroaded by the Bribe System where the Banks make out like bandits. The college graduate is straddled with burdensome debt that is almost impossible to pay off and can't legally declare bankruptcy. By keeping students in debt the Bribe System are able to control society.

It didn't use to be that way. Prior to the Reagan Revolution pretty much anybody could go to college without incurring massive debt. Free education has been a principle of the United States since its founding. Thomas Jefferson created the first free college in the United States, the University of Virginia. Abraham Lincoln put into place free college; seventy-three land-grant universities across the United States where College was free or close to free. When soldiers returned from World War II a GI Bill made it possible for them to acquire a free education. Since then we've found that for every dollar we invested in each soldier coming back from WWII produced a seven-dollar return in additional tax revenue. We all become wealthier when we provide free education.

Forty years of Reaganomics have gutted the American education system. The American middle class has massive student debt. America is the only developed country in the world that has the student loan industry sucking the lifeblood of the middle class. A lot of people worked really hard to pay off their student loans, good for them. But they shouldn't have had the debt in the first place. Many people who have student loans have paid the equivalent of the principal, it is the excessive interest and fees that they are trying to pay off that are strangling them. Through no fault of their own for not being rich they should never have had to have student loans in the first place. People will try to debate that then we'll be paying off the rich kids' debt. Hello!? Rich people don't have student debt! They didn't need to take out a loan.

Republicans told us that if we cut state and federal aid to higher education — which in 1980 paid for about 80% of a student’s tuition — so that students would have what they told us was “skin in the game,” we’d see students take their studies more seriously and produce a new generation of engineers and scientists to prepare us for the 21st century.

Instead of happy students, since we cut that 80% government support down to around 20% (with the 80% now covered by student’s tuition), our nation is groaning under a $2 trillion dollar student debt burden, preventing young people from buying homes, starting businesses, or beginning families. While students are underwater, banksters who donate to Republican politicians are making billions in profits every single week of the year from these bizarrely non-negotiable loans.

We have two trillion dollars in student debt in the United States. We know that the GI Bill gave free college for everybody that served in World War II and produced $7 in added tax revenue for every $1 that has a cost. Every other developed country in the world knows this. That is why they have a free college education, or close to it, low-cost reasonable affordable education. If every country every developed country in the world has it, why not here in America? It's because our politicians are being bribed.

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Talking Points Information

Forty years of the Reagan Revolution has made student debt crippling two generations of young Americans: over 44 million people carry the burden, totaling a $1.8 trillion drag on our economy that benefits nobody except the banks earning interest on the debt.