Which leads us back closer to the ugly reality of people owning other people. ISA used to stand for Indentured Servitude Agreement.
(Not saying Incoming Sharing Agreements's are bad, we just have to be careful...)
(Not saying Incoming Sharing Agreements's are bad, we just have to be careful...)
As a preliminary matter this is false...student loans are dischargable in bankruptcy, they are just treated differently than other debt. However, there is a reason everyone thinks student loans aren't dischargable and the myth persists...
>the incentive structure of "we don't make money unless our education helps you do so" seems like an order of magnitude better than the alternative.
Not when the real alternative is student loan forgiveness and free tuition moving forward. The issue is framing the problem as student loans for life or a financier owning a % of your labor for life, when there are other models.
Seeing as no "mainstream" political party candidate is running on this platform, I think the answer is no. Of course, I would probably say the same of any campaign issue any mainstream candidate is running on due current political climate of our 2 party system.
Whats interesting is if this candidate won the election, perhaps the 2 parties would have no choice but to concede the issue, if for nothing else to realign themselves with their own constituents and win back their votes. Then again maybe we can extend the market saying "the market can remain irrational longer than you can remain solvent" to politics "political parties can remain irrational longer than you can vote."
Private loans, IIRC, are dischargable with a lower standard, but it escapes me what the standard actually is.
I have gotten student loans ($100k+) discharged for clients.
My experience is most people who say student loans are not dischargable have never gone through bankruptcy and have no idea what the process is to discharge regular debts nor student loans. This is true of even some lawyers, who are more than happy to take your fee, but don't know what they are actually doing.
Of course, the constitution is only as powerful as we are willing to follow it -- but I'm pretty comfortable that the slope between people agreeing to pool their income voluntarily and people being forced into servitude isn't all that slippery.