[I]t might be nice to think about those of us who've recently left and are struggling with some pretty crippling student loan debt...
And I'll go them one better--I don't require, or even request, a full-on bailout. I don't need something for nothing. Just make me a deal whereby I spend a handful of years in the public sector making what people in the field make--teaching in a public school, for instance, since
that's where my expertise lies--and in return, I get rid of my student loans.
To round this discussion out, it is important to remember the following:
[R]ight now we do student loans through a really pointless mechanism of basically laundering the money through private firms. All of the downside risk is borne by the government in case of default. And the lenders receive federal subsidies for doing the service of undertaking no-risk lending. But of course the companies also take a slice off the top for profits and salaries for executives and so forth. Consequently, this is more expensive than just directly lending the money. And the government is bearing all the risk anyway.
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