10. Student Loan Debt Refinancing

From http://www.the99declaration.org/student_loan_debt_refinancing

"Our students and former students are more than $1 trillion in debt from education loans. These young people have far fewer employment prospects due to the financial collapse directly caused by the unbridled and unregulated greed of Wall Street.

Ensuring a higher education, particularly in the fields of science, engineering, technology, green energy and mathematics, is no longer a luxury for the few and must now be viewed as a national security issue.

Banks receive virtually interest free loans from the Federal Reserve Bank and then charge upwards of 6% interest to our students for profit. Because education is the only way to secure our future success as a nation, interest on student debts must be immediately reduced to 2% or less and repayments deferred for periods of unemployment. Subject to the provisions of grievance five, the tax code will be amended so that employers will receive a student loan repayment tax deduction for paying off the loans of their employees.

Outright federal grants should be provided to those students who pursue and obtain degrees in the sciences, green energy, sustainability, mathematics, technology and engineering.  Moreover, to reduce the principal on all outstanding student loans, a financial transaction surcharge, similar to those fees charged by banks on consumers, will be introduced to banks and securities firms.

The current economic crisis, the worst since the Great Depression, resulted in the $1.5 trillion dollar bail out of Wall Street, secret Federal Reserve loans, and unknown losses of trillions of dollars to the economy. Work study programs should be expanded to increase access to higher education; universities and colleges that do not reduce tuition to affordable levels shall lose federal funding; and non-citizens who obtain their education in the United States should be provided an accelerated path to citizenship so the investments made in these students remain in the United States."

I'm torn on this issue. On the one hand, I'm struggling to pay off student loans on a degree that I will most likely never use, due to inability to find a job in the field, loss of interest, and aging of the degree itself. On the other hand, I'm the one that made the commitment and took the risk, so now I'm the one dealing with the repercussions.

I believe that education is important. It doesn't matter what field you are in, an excellent grasp of the English language, at least some foreign language experience, a good understanding of mathematical and scientific concepts (including how our own bodies work), an appreciation for the arts (including philosophy), and a strong understanding of history are all useful and help make a well-rounded person.
I think that we really need to strengthen primary education. Extend the school year. Extend the number of years in public school. Teach children how to learn.
Everyone learns in a different way. If you can help children identify how they learn, you can engage them in learning from the start. The more you engage them, the more excited they will be about learning, and will be more successful at it.

I'd propose splitting education into two parts: primary and secondary. Primary education would encompass K-12 (or whatever ending point becomes necessary). Secondary school would be like college now, except that most of your prerequisite courses would already be covered. Think post-associate degree.

So, I'd strengthen primary education (K-12). Maybe you let students begin to drift off into degree paths after elementary school. Still provide a round education, but slowly incorporate more and more specialized learning. Let kids follow their interests.
But most of all, get them interested.

Make secondary school just that: secondary. If I followed a degree path during primary school that ends up preparing me for a career in medicine, for instance, maybe I could be a nurse right out of primary school. If I want to be a surgeon, a psychiatrist, an obstetrician, then I'd go on to secondary school, which I would pay for. Meanwhile, I could be starting my career with the knowledge that I already have.

It's unfortunate that a lot of us are saddled with student loan debt for degrees that we aren't using. I could maybe -- maybe -- see an amnesty for government loans. The rest, however, are our burden.