How the Student Loan Crisis Will Show Up in the Economy - WSJ —

I see two key mistakes in this fiasco:

1. Allowing students to go into debt for majors without good economic prospects.

2. Allowing a pause in repayments in the first place.

I oppose any further forbearance or any discharge of student loan debt. The least educated should not fund the student loan mistakes of the most educated.

I would recommend immediate 10% garnishment of wages and assets, of retirement accounts and of government benefits of those in debt until the full debt is paid off.

For new student loan borrowers, I would only allow debt for college majors with good economic prospects. Also for new borrowers, I would establish a strict policy that the person would not be eligible for SNAP, Unemployment benefits, Social Security, Medicare or Medicaid until the full debt is paid off. Also only US citizens would be eligible for student loans.