this post was submitted on 19 Jul 2024
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We have turned college into the biggest monetary slavery the world has ever seen. I have to believe it had something to do with prepaid college programs; it seemed to coincide with them.
When I went to college in 1980 I got grants. Free money. I wasn't a great student, mostly B's.
What the hell happened when they guaranteed student loans, then made bankruptcy not an option, then stopped including them in credit reports for getting loans, and stopped giving the loans responsibly so they let people over borrow who had no means to pay it back?
What happened was colleges saw the opportunity to make tons of money, guaranteed from the US GOVERNMENT, and without conscious enslaved an entire generation just when we needed them the very most.
Because this small generation is weighed down by the burden of the elderly boomers, the largest generation ever getting old, counting on the economy generated by this generation to keep them alive.
It's sick.
If student loans were treated as normal loans (e.g. not guaranteed and absolvable via bankruptcy) we'd have boomer prices. The purpose of the student loan scam is to create debt slaves that propagate the bureaucratic managerial class.
You can say thanks to the authors of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act. Amongst them being Senator Joe Biden. A bill that he defended back in 2020 during his campaign claiming that he "improved it".
Both Republicans and Democrats want to have slaves, Dems just provide a longer leash.
Welcome to the corporatocracy. Education is just another category of the service industries
Access to higher education wasn't an issue before all these laws were put into place. People didn't "need" a college degree like they do now. The whole policy from it's inception was not necessary. Now college is basically a ticket to the bureaucratic white collar world that produces nothing. (e.g. bullshit jobs)