Earlier quoted context omitted.
This is a really good point. My gut tells me that if the old people were relying on the massive indebtedness of today's college attendees, then that has been a cruel error on their part, an injustice that should be righted. Also, the artificiality of the debt--and the idea that a jubilee won't really hurt the creditors--is put into striking relief by the Rolling Jubilee. Right now, people are already buying that bad…
>This is a really good point. My gut tells me that if the old people were relying on the massive indebtedness of today's college attendees, then that has been a cruel error on their part, an injustice that should be righted. It's a "cruel error" to lend somebody money?
I think the cruel error is to (1) make something (nearly) necessary for a prosperous life, (2) make it ruinously expensive, and (3) offer to loan money to people who have little choice or financial sophistication (4) at terms that are highly favorable to the sophisticated creditor.