Making Sense of the Student Debt Crisis: Education Reform is Robbing Us Blind and Helping No One

Making Sense of the Student Debt Crisis: Education Reform is Robbing Us Blind and Helping No One
by seattleducation2010
It’s not just the tech industries, the testing and text book industries and the data crunchers and education reform managers and cheerleaders and edu-investors making billions of dollars. The U.S. student debt market is growing whereby student debt is packaged and sold to investors, like the mortgage backed securities that landed us into the […]

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Seattle Education

You are not a loan

It’s not just the tech industries, the testing and text book industries and the data crunchers and education reform managers and cheerleaders and edu-investors making billions of dollars. The U.S. student debt market is growing whereby student debt is packaged and sold to investors, like the mortgage backed securities that landed us into the 2009 financial crisis were. These investments are known as SLABS – Student Loan Asset Backed Securities. Sallie Mae is the biggest private provider of student loans AND they also sell SLABS, a $200 billion market.

Since 1983, the United States has supposedly been a Nation at Risk when a report (A Nation at Risk) was written comparing our students’ performance on international tests to the performance of students in other countries. In this report we were warned that we would fall behind economically if we couldn’t better prepare young people for the future…

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