John Carney’s Brilliant Solution To Cancel Student Loan Debt Crisis And How Colleges Launder Money
I have to admit, I didn’t expect to find out how brilliantly scammy the United States College system was until reading that cartoon series.
TLDR: Colleges can issue municipal (city/state) bonds in lieu of corporate bonds which means everybody gets tax free or near tax free returns on their money and borrowing. No chance for the government to skim some of that fat rich people cash, which defunds city and state colleges.
John Carney wants to shift our current student/college pay system to a Colleges must invest in students and then the students pay a portion of their salaries to colleges as the “fee”. This ensures a win win environment where everybody has to make sure the student succeeds at their job or nobody gets paid. This also shifts a lot of the burden of the poor students.
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