One of the most memorable moments of this week’s Democratic National Convention came during Bernie Sanders’ speech, when young delegates wept as the former presidential candidate endorsed Hillary Clinton. No wonder they were crying. Mr Sanders brought America’s $1.2tn student debt bubble into the spotlight, arguing for free college tuition so that young people entering a lacklustre US labour market would not be hamstrung by debts they could never repay.
Really excellent article about the negative practices and impacts of student debt in the US. The same issues are also very much in play in this country. Education should be structured as public investment not private debt. Given the impact that it has on the spending capacity of the young and therefore demand in the economy it is set to reinforce a spiral of decline that undermines the life opportunities of young people and ultimately the writing off of the debt.