Student loan debt tops $1 trillion

Quote from 4thaugust1932:

"If you wish to keep slaves, you must have all kinds of guards. The cheapest way to have guards is to have the slaves pay taxes to finance their own guards. To fool the slaves, you tell them that they are not slaves and that they have Freedom. You tell them they need Law and Order to protect them against bad slaves. Then you tell them to elect a Government. Give them Freedom to vote and they will vote for their own guards and pay their salary. They will then believe they are Free persons. Then give them money to earn, count and spend and they will be too busy to notice the slavery they are in." --Alexander Warbucks
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There is truth here, however the one thing you must not permit the slaves to do is to acquire a good education. There is no problem with job and obedience training, in fact the slave masters must encourage it, but allow the slaves access to a real education, and you invite insurrection.

I believe the proliferation of for-profit "educational" institutions to be very favorable to the slave masters. They teach without educating, and they increase dependence on government.
 
Quote from Bob111:

ridiculous. this will balloon the price of education way way further. f** this s**t. poor me..paying for my kid with my savings money on top of this giant bubble
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no shit.
 
Too big of a bubble. Stop the loans and let’s see what people will really pay for an education. Bet it wouldn’t be more than $20k then.
 
I would also like to see what an education would be worth without any loans whatsoever. Then again I’d like to see what the value of anything – including the market – would be without any credit…
 
Intriguing thought… A world without credit would be an interesting one to say the least. I think a lot of prices would come down in general and people would be forced to have a reserve pile of cash without any form of credit.
 
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