Millennial income did not recover from the Great Recession like older generations', a disparity that can have dire consequences for future generations.
- A New America report shows millennial income and wealth accumulation lags dramatically behind their parents' and grandparents' generations.
- Resulting from the Great Recession, rising debt, and volatile wealth flow, this imbalance will impair future generations if not corrected.
- The report's authors argue the shortfall can be redressed with comprehensive policy changes.
Her plan to abolish most student debt has been put before Congress. But does it have any chance of passing?
- Elizabeth Warren made a major policy announcement about education back in April.
- The cornerstone of her announcement, student debt relief, has now been put before congress.
- The bill currently has no chance of passage, but that could change if the people who support it actually voted.
There are many reasons the student debt crisis is what it is, a few of them can be traced back to good ol' Uncle Joe.
- Student loan debt in the United States is at crisis levels, as more than a trillion dollars is currently held.
- Part of the reason the amount is so high is because student loans can't be easily shaken off through bankruptcy proceedings.
- This is, at least partly, the fault of a certain Delaware Senator who later served as our coolest Vice President.
On the first episode of The Portal, Eric Weinstein and Peter Thiel discuss the future of education.
- On his new podcast, The Portal, Eric Weinstein dives into student debt and the function of universities with Peter Thiel.
- Weinstein floats the idea of a college equivalence degree (CED) through an online testing system.
- Thiel notes that if you don't pay off your student debt by age 65, the government garnishes your social security checks.
Just when you thought the student loan crisis couldn't get any worse.