This will actually give universities incentive to deliver marketable, workforce ready candidates without such a huge price burden as the more marketable their students, the more money they will bring in. Looking at some of the math 5% for 20 years is actually a lot cheaper than what a lot of American’s sign themselves up to pay for and theoretically its not such a burden in the younger years when you would typically be making less. I really like this preliminary idea, I would love to see the refined details. The overarching idea of this just seems like a fantastic way to help us 99% escape education debt serfdom.
From a Zerohedge comment here is your checklist for Oh SHIT the financial world is coming to an end! Too Funny, unfortunately its pretty much all true.
Checklist of ‘Oh Shit’ –
Near Record or Record Margin
Near Record or Record Leverage
An Unregulated and Private Derivatives Market With a Notional Value Approximated at 600 Trillion USD, Which Will Ultimately Necessitate More Bailouts of ‘TBTF’ Entities Under Threat of “Martial Law” & “Tanks in the Streets” When Certain, Special Entities Lose Their Wagers:
Excessive Governmental Meddling That Distorts Supply/Demand Curve
Excessive Central Bankster Meddling Via Monetary Policy Distorting Supply/Demand Curve
Complete Lack of Transparency As To How, What, When & Where Central Banksters Are Doing Things
An Accumulated Debt Overhang Built Over 40 Years That Puts Interest Component On National Debt, Alone, At Several Multitudes of What The Entire National Debt Was Just 20 Years Prior
An Accumulated Debt Carried By the Federal Government So Large That Nearly 30 Cents of Every Dollar Borrowed by Federal Government in Form of Annual Deficit Spending Goes Toward Interest on the Debt
A Structural Change in Employment Base Whereby a True 20% of the Workforce (18 to 60 Year Olds – Not Disabled) Can Not Find Permanent Work
A Structural Change in Employment Base Whereby a True 30% of the Workforce Can Only Find Work that Puts Them In ‘Working Poor’ Status
A Structural Change in the Economy & Society Whereby a True 50% of the Population is Dependent on Direct Government Aid & Subsidization In Order to Meet the Basic Expenses of their Day-To-Day Subsistence
Having The ‘Financial Services’ Industry Constitute 40%+ of the U.S. Gross Domestic Product, While The ‘Manufacturing’ Sector Consitutes Roughly 16% (Exact Inverse of Where Things Stood in 1968)
The U.S. Government Spending 1.41 for Each Dollar of Revenue it Receives On An Annual Basis.
Having Property Taxes at the Local Level of Government Grow 480x Over In 80 Years in Real Dollar Terms
Having The Government Move From A Model Whereby It Is Able to Balance Its Budget Taking a Mere 6% of the Average Annual Income of Americans in 1913 to One Whereby It Is Running An Annual Deficit Equal to 16% of GDP and Has A Debt of 108% of GDP (It’s Actually Much Higher Than That) While Taking Nearly 20% of Average American’s Incomes (This Nearly 20% Doesn’t Include Sales Tax, Property Taxes, Use Taxes, Permit or License Taxes/Fees, License or Registration Taxes/Fees, State Income Taxes, Death Taxes, Personal Property Taxes, or a Myriad of other Taxes).
Having 3 Segment of the National Annual Budget Consume 80% of Spending: Medicare, Social Security & Defense
Having a Congress, Executive & Judicial Branch of Government in ‘Deep Capture,’ That Works For the Best Interests of the Military-Industrial-Financial Complex, Always
Having Sacrosanct Provisions of the Constitution Gutted, Shredded & Vaporized So Completely That The Constitution Becomes A Mere Reference Point & “Sometimes Persuasive,” Rather Than A Mandatory Roadmap
…One day this will all come tumbling down on us. Until then, protect yourself now and keep laughing.