Student Loan Bankruptcy Law

This is my suggested change to bankruptcy laws for student loans. If someone declares bankruptcy, the student loans should be converted into an income based payment plan. The borrower would pay 10%-15% of their income until the loan is paid off OR 10-20 years has transpired.

The Problem with Getting Rid of Student Debt

                Although this may sound odd coming from a person committed to solving the student debt problem, I do not think student debt is totally bad.  I believe there are aspects of student debt that are really good.   When I imagine fixing the student debt problem; I don’t imagine school being free. I imagine a world where student debt gets properly invested. Where loans go to institutions that lead to good careers; and the schools that suck go bankrupt.

   

   In order to solve the student debt problem we first have to understand the problem. The problem is not that student debt exists, the problem is that the debt is misallocated.  Misallocation is an economic term that means a bunch of loans are going to total crap.

I need to blog more

I need to blog and share video updates more often. TuitionCoin is a journey. One I want to share. But, it’s hard to share. I’ll start posting more often, starting with this post, which is about my fears around sharing.