sajay samuel

intro’d to Sajay via his tedxpsu (penn state) – 2016 – How college loans exploit students for profit

14 mill americans indebted for their passage into econ.. owe more than 1 trill us dollars.. a debt that is secured on their person..

in america even a bankrupt gambler gets a second chance.. but it is nearly impossible for an american to get discharge of student loan debts

once up on a time in america graduating did not mean graduating w debt.. was thought of as public good.. not anymore..

have to get a loan.. because..cost of higher ed has become unaffordable for many/most american families

not bad if you could pay it off.. but that’s where rubber meets road.. tuition costs up.. public funding down… family/personal incomes diminished/weak.. more than a quarter of those who must can not make their student loan payments..

worst of times can be best of times.. certain truths flash up

1\ higher ed is a consumer product… ie: 1.2 trill debt for diplomas.. make obvious that higher ed is a consumer product you can buy  … investment to improve human stock.. to sort/classify.. so employers can hire more easily…ie: ranks colleges like ranking washing machines..

2\ student debt is profitable..only not on you.. ie: sallie me and naviant.. combined profit last year 1.2 billion… profit twice.. once from tuition and two from interest on debt… some in higher ed business have begun to engage in false ad.. .. in exploiting very ignorance they pretend to educate

3\ diplomas are a brand.. when students are treated as consumers they are made prisoners of addiction and envy (my teacher).. sold more and more ed..  upsold on cert’s and re cert’s masters phds… buy a degree to distinguish self from others…

these truths hidden by noisy sales pitch: college degree is essential to .. middle class life.. then say what % more get paid.. yet we see many as baristas..

now even economists admit.. going to college pays off for only those who have completed..  but only because workers w hs degree have been denied for what they produce.. if they would have got what earned.. college degree wouldn’t have paid off..

most punishing forms of student debt..

so what do we do..what if students/parents treated higher ed as consumer product… everyone else does.. if you did.. you’d demand to know what you paid for..

what if there was an app for that ie: income based tuition.. any user can figure out how much money would make.. such informed users unlikely to fall victim.. why pay more for than college than 15% of income..

college admin forced to manage cost better..

would free americans from fear/fact of financial ruin from buying defective product

perhaps then people will reawaken their curiosity..

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find/follow Sajay:

http://php.smeal.psu.edu/smeal/dirbio/displayBio.php?t_user_id=sxs26

https://www.ted.com/speakers/sajay_samuel

Professor Sajay Samuel’s proposal to reduce the burden of student loans is part of his larger preoccupation with thinking beyond the conventional categories of economics and ecology.

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strike debt et al