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Let’s learn from the 2008 subprime mortgage crisis

We are going to bail out Student Debt one way or another. What’s left is the Ws: who, what, when/where, why, and how.

Remember the 2007 subprime mortgage debt crisis? Predatory lenders had targeted people who had struggled to afford a home, and saddled them with higher interest rates. They told them it would be worth it in the long run, because owning a home was the best investment you could make in your future. They didn’t care if people could ever pay off the debt, as long as they could make monthly payments.

In 2019, we’re facing much the same problem, but with student debt instead. Predatory lenders have targeted people who would have struggled to afford college, and saddled them with higher interest rates. They told them it would be worth it in the long run, because a college degree was the best investment you could make in your future. …

About

Mattias Lehman

Democratic Party Delegate, Black Lives Matter, Proud Social Democrat, Aggressive Progressive — https://www.patreon.com/mattias_lehman

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