Eyck Freymann: How to Break China’s Minerals Chokehold
Why the allies need a multilateral commercial stockpile This essay is based on a Hoover History Lab working paper, co-authored with Joshua Stinson, William Norris,…
Thought Leader: Eyck Freymann
The $1.4 trillion federal student debt market faces a huge issue — transparency
By Sheila C. Bair (Original source Yahoo Finance)
“When it comes to federal student lending, the bad news just keeps coming. Federal student debt now exceeds $1.4 trillion and fully half of that is not being repaid. More than one million student borrowers default each year.
Nearly 40% are expected to default by 2023. (For context, during the financial crisis and its aftermath, mortgage delinquencies and defaults peaked at 11.5%.) Much research and study have been devoted as to why so many student borrowers aren’t paying their loans. Part of the answer may be that they never fully understood they were borrowing because of misleading marketing.
Imagine that a bank offered to help you buy a car. Let’s say that the bank sent you a letter offering a variety of different types of “aid” without clearly specifying that some of the “aid” was in the form of a loan that you would have to repay. Let’s say that the bank also didn’t disclose to you the total amount you would have to borrow to get the car or the interest rate and other key terms of the loan before you committed to its offer. Would you take the deal?”
Click here to see more
Relevant and recent posts
Chris Miller: Robotics Manufacturing: The Rise of Japan
“To the Americans, a robot is a computer attached to a mechanism. To Japanese, a robot is a mechanism attached to a computer.” The future…
Thought Leader: Chris Miller
Dr. Sanjay Gupta: A New Understanding of Parkinson’s Disease
Parkinson’s disease, a progressive movement disorder whose hallmark is damage to the dopamine-producing neurons in the brain, afflicts almost 12 million people worldwide. And the…
Thought Leader: Sanjay Gupta
