WHITE HOUSE CLAIMS THAT STUDENT DEBT IS GOOD FOR THE ECONOMY

Jon Alternative Media, Banking, Blogosphere, Economy, Government, Science

These days, student loan debt is probably one the most controversial and maligned issues in America. Pretty much everyone agrees that these debts are overwhelming young people, and preventing them from starting productive lives. That is, everyone except The Council of Economic Advisors, a research group that works for the White House.
The organization recently released a paper which argued that these student loans are actually beneficial to the economy. ‘Federal student loan programs help expand access to high-quality education, which has long-lasting benefits to individuals as well as the overall macroeconomy through higher labor productivity and faster GDP growth.’ The report goes on to claim that the Fed’s student loan program has helped build skills among workers, earning them more money and driving growth.
In reality, unless you earn a degree in a field that society needs, like say science, medicine, or engineering, you’re probably not going to earn enough money to justify your student loan.

This post was published at The Daily Sheeple on JULY 19, 2016.