Dr. Jane O'Meara Sanders sits down with Sanders Institute Founding Fellow and economist Dr. Stephanie Kelton to talk about Dr. Kelton's new report on the macroeconomic effects of student loan debt cancellation in the United States.Read More
Among the more ambitious policies that have been proposed to address the problem of escalating student loan debt are various forms of debt cancellation. In this report, Scott Fullwiler, Research Associate Stephanie Kelton, Catherine Ruetschlin, and Marshall Steinbaum examine the likely macroeconomic impacts of a one-time, federally funded cancellation of all outstanding student debt.Read More
The report analyzes households’ mounting reliance on debt to finance higher education, including the distributive implications of student debt and debt cancellation; describes the financial mechanics required to carry out the cancellation of debt held by the Department of Education (which makes up the vast majority of student loans outstanding) as well as privately owned student debt; and uses two macroeconometric models to provide a plausible range for the likely impacts of student debt cancellation on key economic variables over a 10-year horizon.
The authors find that cancellation would have a meaningful stimulus effect, characterized by greater economic activity as measured by GDP and employment, with only moderate effects on the federal budget deficit, interest rates, and inflation (while state budgets improve). These results suggest that policies like student debt cancellation can be a viable part of a needed reorientation of US higher education policy.
The Global Partnership for Education, a worthy and capable initiative to promote education in 65 low-income countries, is begging for funds. The fact that it must do so - and for a paltry $1 billion per year, at that – exposes the charade of the US and European commitment to education for all.Read More
Last week I became the Chair of The Sanders Institute (TSI), an initiative that grew out of the Bernie Sanders presidential campaign of 2016. While as a sitting senator, Sanders cannot be involved in the work of TSI, we are committed to elevating the issues on which he based his run for the White House.Read More
Dr. Cornel West, Robert George Tackle Tough Issues in Auburn University's "Critical Conversations" SeriesSeptember 2017
Dr. Cornel West and Robert George kicked off a series of "Critical Conversations" at Auburn University on Friday September 1, 2017. The University said the speaker series has been put together in an effort to educate students to the point of making thought-out decisions. “Free speech is one of our nation’s founding principles,” said Auburn President Steven Leath. “Engaging with national thinkers and speakers to explore all perspectives around civil discourse is key to informed decision-making, critical
thinkingand leadership. We’re excited to bring this opportunity to our students and the campus community.”
You can watch the entire conversation here.Read More
This article from the Pew Research Center describes 5 facts about student loans in the United States:
1. About four-in-ten adults under age 30 have student loan debt.
2. The amount students owe varies widely, especially by degree attained.
3. Young college graduates with student loans are more likely than those without loans to have a second job and to report struggling financially.
4. Young college graduates with student loans are more likely to live in a higher-income family than those without a bachelor’s degree.
5. Compared with young adults who don’t have student debt, student loan holders are less upbeat about the value of their degree.View Page