Got Millenials? Democrats Should Address the Student Loan Crisis Immediately

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59. Banks must write down their losses on student loans

It is a trillion dollar problem similar to that of the mortgage crisis. It is a drain on the economy. Kids are stuck paying off unproductive loans. These loans do nothing for the economy at large. The loans don't help other sectors buy and sell goods and services, unlike housing and auto loans.

the sooner we do a massive write down and yes, the banks will take a hair cut, the faster this economy will start moving for everyone. Kids will be buying stuff and moving out of the parents house.

I would advocate a few years of jubilee. Kids get employed in a work program paying a bit more than minimum wage and are trained in marketable skills and are doing stuff that needs to be done that benefits society, like rural broadband. After three years they can go get a job with their debt forgiven.
Also, a program needs to be set up for relieving boomers who are paying their kids debt and another program for retraining boomers so they can get another job after they are laid off and need to switch industries.