Student Loan Forgiveness

https://marginalrevolution.com/marginalrevolution/2022/09/ta…

In The Student Loan Giveaway is Much Bigger Than You Think I argued that the Biden student loan plan would incentivize students to take on more debt and incentivize schools to raise tuition with most of the increased costs being passed on to taxpayers through generous income based repayment plans. Adam Looney at Brookings takes a deep dive into the IDR plan and concludes that it’s even worse than I thought.

More at the link & more here:
https://marginalrevolution.com/marginalrevolution/2022/08/th…
https://www.brookings.edu/opinions/bidens-income-driven-repa…

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Back when I worked for Arm, a British IP company, my UK and French co-workers were always perplexed by how expensive college was here. They had the same views about our health care systems.

Back when I worked for Arm, a British IP company, my UK and French co-workers were always perplexed by how expensive college was here. They had the same views about our health care systems.

Because Shinyland ideology requires everything to be rationed by ability to pay. In the 60s, my dad and I visited Kensington Park, northwest of Detroit, quite often. Big lake, beaches, boating, hiking and biking trails. Very nice. In the 60s, park access was free. Now it’s $10/day, or $40 for an annual pass.

But bottling companies draw over a million gallons per day of water out of the aquifer under the state, for only a $200/year permit, because, must not burden the “job creators”.

Steve

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The Brookings Institute is not a responsible think tank. The Brookings is only a marketing firm. There is no thought going on there.

The first problem for universities to raise rates is the willingness of parents and students and banks and the government to borrow and lend more. The problem is there was no loan forgiveness for current or future students.

Good luck seeing any hike in college costs based on this.

But if you want right wing marketing instead of actual intellect you hit the nail on the head.

Back when I worked for Arm, a British IP company, my UK and French co-workers were always perplexed by how expensive college was here. They had the same views about our health care systems.

The costs are the same in France pretty much. But France has more responsible adults.

But if you want right wing marketing instead of actual intellect you hit the nail on the head.

Brookings right wing? LOL
https://mediabiasfactcheck.com/brookings-institute/

Strobe Talbot ran Brookings for 15 years. I imagine he would be quite surprised at your charge.

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Well I certainly got that wrong.

The Brooking Institute also got it totally wrong. The loan forgiveness does not effect current or future students. It is cheap talk suggesting it does. How researched is it? Because the school year just began. It is not the time to declare tuition hikes based on anything but the needs of next year’s budget.

Turns out I was right on target.

That is an opinion piece not authored by the Brookings Institute.

It is written by a director at a school of finance and management in good part financed by the Koch Brothers.

https://www.sltrib.com/news/education/2017/08/25/eccles-gran…

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Turns out I was right on target.

That is an opinion piece not authored by the Brookings Institute.

It is written by a director at a school of finance and management in good part financed by the Koch Brothers.

https://www.sltrib.com/news/education/2017/08/25/eccles-gran…
The donation would partly bankroll an institute bearing Marriner S. Eccles’ name

The George S. and Dolores Doré Eccles Foundation and the Marriner S. Eccles Foundation said in a statement that the concern has no merit.

The gift agreements clearly provide that the university faculty has complete control over decisions,” foundation officials said — including faculty hiring and promotion, institute programming content and faculty research topics. This applies to both the Eccles and the Koch Foundation, their statement said.

They went on to say that falsehoods about the arrangement — including the assertion that the Koch Foundation could influence the disbursement of funds from the Eccles foundations — “have deceived even some people who care a great deal about honoring the memory of Marriner Eccles.”

The articles went into the disagreement of faculty members over accepting the Koch donation and disagreement amongst Eccles descendants whether Mariner S Eccles would agree with Koch’s political believes.
In any case, I am sure the university took the money because that’s what universities do. I suspect the university could care less the source of the money as long as they control the disbursement of it.
And Eccles grandson’s opinion was issued under the Brookings website.
Board members can peruse the links and make their judgement.

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The argument that if money is given it encourages inflation is very Milton Friedman. It is off target. Money was never given to the current students or the incoming students next year.

The argument is for the sake of being supply side econ oriented. A big mistake that has cost us for 40 years with slow economic growth. There is no defense for that. I could careless if the man has two or three Ph.Ds he is saying something untrue that does not even fit what is going on.

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I suspect the university could care less the source of the money as long as they control the disbursement of it.

The mind of the typical university, I would suspect, would, about 5 nanoseconds after pocketing the check, would turn to what it needs to do to receive another donation.

Steve

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