A must-read Matt Taibbi on the horrific actions the US government has taken to protect the student loans industry (which is now essentially nationalised).
No requirement to disclose full APR, no ability to declare bankruptcy, garnishing disability payments. Horrible, and I suspect this is the model the UK may be moving towards.
As he says, we are stealing from our descendants' futures in yet another way.
It’s class warfare. There may be a chance that even the gerrymandered districts won’t ensure Republican victories in 2014 and 2016, but I have less hope for the UK. The sale of the NHS in the teeth of promises made, fracking, increasing tuition fees, Atos, the Universal Credit ballsup, the Bedroom Tax, and having taxpayers underwrite mortgages the banks won’t touch: all privileging ever-increasing income inequalities over civil society as a whole. Ensuring the young-educated stay poor and the generations-poor never get a chance to see the inside of a college is part and parcel of the ultra-right’s wish to return to the 1840s.
Not exactly light reading at 7am on a Sunday, but very timely as we just started the kids’ college funds last week. Thanks for this. Great read. Yikes.