Student Loans a Lot Like the Subprime Mortgage Debacle, Watchdog Says
All this talk about student loan forgiveness is an unnecessary solution to a problem that’s not really that bad: <a href="https:&#x2F;&#x2F;www.nytimes.com&#x2F;2018&#x2F;04&#x2F;02&#x2F;upshot&#x2F;an-international-final-four-which-country-handles-student-debt-best.html" rel="nofollow">https:&#x2F;&#x2F;www.nytimes.com&#x2F;2018&#x2F;04&#x2F;02&#x2F;upshot&#x2F;an-international-f...</a><p>Average BA holders in the US graduate with $28,000 in debt, versus $21,000 in Sweden. The Swedish system is basically like our income-based-repayment, which we have had since the 1980s. Except, as you’d expect with Sweden, there is less paperwork and fewer gotchas. Simply tweaking the PAY-E system Obama created, to add automatic enrollment and automatic annual income verification based on tax returns, would get us a system that has proven workable in Europe. All without trillion dollar loan forgiveness or radical changes. (And with, in my opinion, a fairer system of redistribution, where those who needed loans and got high paying jobs subsidizing those who needed loans but didn’t get high paying jobs.)<p>(And simply tweaking ACA would get us pretty close to the Dutch model of health insurance. But that doesn’t get headlines.)