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in usa – is student debt keeping the economy down ?
in usa , a lot of people go to college , borrowing money from banks on education loans
with a lot of colleges running a for-profit business , the people are graduating with a lot of debt , if they graduate during a recession , no jobs for them .. so they have to move in back with their parents
with debt , they are not able to buy homes faster , the real estate creates a lot of jobs
so for-profit colleges are ruining the economy .. the lobbying done by them with the senators to increase fees is now ruining the economy
on the other side , visitors from other countries , coming on visas – either student visas or work visas – used to add a lot of money into the economy – now with virus , that is gone too
so the plan for cutting the student debt by reducing it or eliminating it altogether may work in helping the economy