Print another form of currency to pay for everyone’s education.
An open letter to President Obama. (#Day6)
Dear President Obama,
Please print another form of currency to pay for the entirety of every college student’s college education in America.
Please begin a campaign to get around the illusion we are all closing our minds into, one which produces more student loan debt than American’s collective credit card debts combined. Our bill for teaching ourselves exceeds that of living life day-to-day.
Please free the roughly 25 million students pursuing a college degree of-some-form in America from a monetary system which has driven the costs of college through the roof, put millions of kids at the whims of lenders, and subjects kids to paying off student loans for years into the future (with no ability to default on these loans in a bankruptcy court).
Free these kids from debt slavery, from having to make difficult decisions about gambling on their future livelihoods due to a desire to pursue a college degree.
My proposal has not yet happened, I believe, because we have collectively fell for a moral trap, one which places money (in the form of United States Dollars) before the ability of our next generation to pursue knowledge for free. Yes, universities are immensely expensive to operate. But we should not put this burden on 18–22 year olds to pay. We should take a new approach, one which cuts through all the political red-tape and puts common-sense first.
In 1913, the Federal Reserve Bank was created when President Woodrow Wilson signed the Federal Reserve Act into law. This was a historical and extra-ordinary measure, one which has impacted the development of America for 100 years.
In 2016, there is an incredible possibility to end your Presidency on a historical, monumental note; we can and should create a new National Education Bank, one which can and will pay for every college student in America’s full tuition cost of education through printing a new form of currency.
Creating money solely for the purpose of funding higher education would, without question, better the collective livelihoods and capacity to learn and pursue opportunities for everyone in America, both now and in the future.
This new money could take many forms. Below I have proposed the basics for 2 possible solutions for the National Education Bank to pursue to fund this endeavor:
- Print more United States Dollars, but give them to universities as-is, not in the form of (debt-based) loans.
- Create something completely new, say, the United States Education Currency (USEC), and enable these to only be exchangeable within the university system.
Either way, students will be equally as capable to learn, and teachers will be equally as capable to teach. What this act will do, really, is transfer the financial burden off of students and place it in the hands of the government, which is already in a lot of debt and is already finding ways to handle more over time. Another option would be to figure out a way to absorb the cost through some sort of general printing money agreement between banking institutions (just as happened in the 2008 financial crisis and subsequent bailouts of the banking and automotive sectors).
I would love to meet with you to discuss this possibility more. That would, actually, be quite amazing.
Millions of young Americans grew up with you as our President for the last 8 years. Millions of us have lived through Obamacare, a turbulent job market, and an exciting/scary 21st century outlook. Millions have significant student loan debts to pay off, and millions are currently being deprived from the opportunity to learn from top accredited institutions due to steeply rising costs and the very real opportunity-cost that exists around subjecting oneself to so much debt.
Writing this letter was a little scary, because I recognize how profoundly impactful and historic this action can be, and how actually-possible it is. I really cannot think of a better way to cap off your Presidency.
On behalf of an entire generation of young Americans, it is my hope that this letter can provoke a collective mind-shift, one which will amazingly be able to MAKE COLLEGE FREE for everyone who meets the to-be-further-discussed requirements, beginning in Fall 2017.
Please share your thoughts on this when you can find a free moment. I greatly appreciate your insanely hard-work in an insanely hard-job, dedication to our country, and visionary foresight to turn this idea into a reality.
I really appreciate your time and consideration.
Thank you, and God Bless America.
— Ryan Strauss