Tuesday, August 30, 2022

Biden's Income-Driven Repayment Plan Will Make College Much More Expensive

Biden's income-driven repayment program for student loans is dangerous

  • President Joe Biden announced that he would forgive between $10,000 and $20,000 of student loan debt for qualifying borrowers who make less than $125,000 per year.
  • Biden also said he would create a new Income-driven Repayment (IDR) system for college borrowers.
  • Under the current system, a prospective student needs a certain amount of money to pay for tuition at a university-say, $50,000-and borrows that sum from the government (i.e., the taxpayers). Later, the borrower pays it back, with interest. Under IDR, the university and the borrowers have incentive to cooperate and screw the taxpayers.

A California proposal to "protect kids" could see websites scanning people's faces and making them submit video "liveness tests" before they can look at content or make purchases.

  • On Friday, I wrote about the companies and organizations most likely to benefit from California's AB 2273, the "Age Appropriate Design Code" bill that the California legislature seems eager to pass
  • The bill seemed to be getting very little attention, but after a few of my posts started going viral, the backers of the bill ramped up their smear campaigns and lies - including telling me that I'm not covered by it.

Free Market

  • If districts really want to hold on and be that common place where people come for their education, they need to figure out how to customize.
  • There are lessons to be learned about how to leverage micro schools and the advantages they bring within a larger schoolhouse
  • How to use online tutoring and online teachers to give access to certain options that certain children may want to have

Quick Hits

  • A bill that passed the California legislature would set wages for an estimated half-million fast food workers in the state
  • Drug use fell sharply among teenagers last year while rising among young adults, according to a government-sponsored survey
  • The ongoing collapse of marijuana prohibition, contrary to the warnings of legalization opponents, has not boosted underage cannabis consumption
  • Recent interest in the benefits of psychedelics has been accompanied by moves toward decriminalization and legalization, had any discernible impact on adolescent use

https://reason.com/2022/08/30/biden-student-loans-income-driven-repayment-college/ 

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