Can Forgiving Student Debt Help Fix the Economy?
An online petition asking for a one-time bailout of student loan debt has gathered 670,000 signatures. But is it a realistic way to help the economy while preserving the notion of fairness?
What's the Latest Development?
Faced with $88,000 of debt incurred through student loans, Robert Applebaum started a petition in 2009 that asks for a one-time bailout of American student loan debt—currently valued at $1 trillion—as a way to stimulate the struggling economy. "With the stroke of the President’s pen, millions of Americans would suddenly have hundreds, or in some cases, thousands of extra dollars in their pockets each and every month with which to spend on ailing sectors of the economy," Applebaum writes in the petition. Since 2009, the Occupy Movements have gotten strongly behind Applebaum's message.
What's the Big Idea?
Because student loans are not erased by declaring bankruptcy, banks have little incentive to screen candidates according to whether or not they can pay the loans back. Meanwhile, universities have little incentive to curtail tuition increases, which are occurring at twice the rate of inflation, because they know students will be given generous loans. "Perhaps the biggest roadblock to Applebaum’s plan is that a one-time bailout is a temporary fix to an on-going problem. What’s really needed is a long look at how higher education in the U.S. is financed."
Photo credit: Shutterstock.com
Pfizer's partnerships strengthen their ability to deliver vaccines in developing countries.
- Community healthcare workers face many challenges in their work, including often traveling far distances to see their clients
- Pfizer is helping to drive the UN's sustainable development goals through partnerships.
- Pfizer partnered with AMP and the World Health Organization to develop a training program for healthcare workers.
It's the first time the association hasn't hired a comedian in 16 years.
- The 2018 WHCA ended in controversy after comedian Michelle Wolf made jokes some considered to be offensive.
- The WHCA apologized for Wolf's jokes, though some journalists and many comedians backed the comedian and decried arguments in favor of limiting the types of speech permitted at the event.
- Ron Chernow, who penned a bestselling biography of Alexander Hamilton, will speak at next year's dinner.
A glass of juice has as much sugar, ounce for ounce, as a full-calorie soda. And those vitamins do almost nothing.
Quick: think back to childhood (if you've reached the scary clown you've gone too far). What did your parents or guardians give you to keep you quiet? If you're anything like most parents, it was juice. But here's the thing: juice is bad for you.
A study on flies may hold the key to future addiction treatments.
- A new study suggests that drinking alcohol can affect how memories are stored away as good or bad.
- This may have drastic implications for how addiction is caused and how people recall intoxication.
- The findings may one day lead to a new form of treatment for those suffering from addiction.
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.