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establishment says student loans are good for the
Posted on: July 20, 2016 at 13:22:16 CT
SuperTone MU
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economy, not bad.
http://blogs.wsj.com/economics/2016/07/19/student-debt-helps-not-harms-the-u-s-economy-white-house-says/
The White House just released a big report on student debt that contains all the familiar horrors about for-profit schools, indebted dropouts and students defaulting on their loans. But it has an interesting conclusion: That growing stack of $1.3 trillion in student debt is helping, not hurting, the U.S. economy.
That conclusion is sure to rankle the many student advocates and special-interest groups—from real-estate agents to employers seeking new tax breaks for their young workers—that argue student debt is a big “drag” on the economy. (Hillary Clinton and Donald Trump have each decried the rise in student debt.) But the 77-page report from the White House Council of Economic Advisers backs up its claim with numerous charts and studies from economists and academics.
The surge in student debt occurred largely on President Barack Obama’s watch, though it began several years earlier. Since early 2009, when Mr. Obama took office, student debt has nearly doubled, to about $1.3 trillion today, according to the New York Federal Reserve. The uptick owed much to the sorry state of the economy: During high unemployment, enrollment in college and graduate school typically rises, the White House notes. That’s because for workers, the so-called opportunity cost of going to school–the wages they lose from not working—is lower.
http://blogs.wsj.com/economics/2016/07/19/student-debt-helps-not-harms-the-u-s-economy-white-house-says/
The White House just released a big report on student debt that contains all the familiar horrors about for-profit schools, indebted dropouts and students defaulting on their loans. But it has an interesting conclusion: That growing stack of $1.3 trillion in student debt is helping, not hurting, the U.S. economy.
That conclusion is sure to rankle the many student advocates and special-interest groups—from real-estate agents to employers seeking new tax breaks for their young workers—that argue student debt is a big “drag” on the economy. (Hillary Clinton and Donald Trump have each decried the rise in student debt.) But the 77-page report from the White House Council of Economic Advisers backs up its claim with numerous charts and studies from economists and academics.
The surge in student debt occurred largely on President Barack Obama’s watch, though it began several years earlier. Since early 2009, when Mr. Obama took office, student debt has nearly doubled, to about $1.3 trillion today, according to the New York Federal Reserve. The uptick owed much to the sorry state of the economy: During high unemployment, enrollment in college and graduate school typically rises, the White House notes. That’s because for workers, the so-called opportunity cost of going to school–the wages they lose from not working—is lower.
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establishment says student loans are good for the - SuperTone MU - 7/20 13:22:16