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economics wall-street banking crisis the-fed money loan recession same-old-story bailout

school loan

Banks are inept, inefficient and corrupt parasites on the federal student loan program.

banking education loan

To avoid a domino effect of massive layoffs and bankruptcies, the most urgent action for businesses to take is the initiative of creating a Business-to-Business (B2B) mutual credit system at whatever scale makes sense to them. The WIR system (see six page synthesis paper for details) is a successful precedent of this strategy implemented in Switzerland since 1934.

business credit alternative-currency economics crisis loan via:rushkoff

in list: Economic Crisis

Objections to private student lending ignore ways that government could save money now, even when it couldn't save money at the start of the program. Everything changes, even the efficiency of government.

education loan government efficiency free-markets ideology republicans

a new system of tuition financing that works on both the individual and macroeconomic levels. It goes like this: students take out loans from a government agency, but instead of paying back the precise amount they borrowed, they agree to a modest tax surcharge on their earning for several years after they graduate. If they end up with high-paying jobs, they pay back more into the student loan system. If they end up with lower-paying jobs, they pay less. The overall terms, the percent of the surcharge and the number of years, are set so that, over all the graduates combined, the money borrowed is equal to the money returned. This is a progressive approach that scales the financial contribution of those who benefit from college to their ability to pay, and it reduces the pressure on borrowers to take the most lucrative jobs rather than the ones that appeal to their interests and ideals.

education finance loan cost progressive