
Billionaire Created a Perfect Experiment by Erasing $34M in Student Debt - pseudolus
https://www.bloomberg.com/news/articles/2020-07-24/a-34-million-student-debt-wipe-out-sets-up-a-perfect-economic-experiment
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fred_is_fred
I've read quite a few of these stories that seem to posit that starting your
post-college life with $30k in student loans is essentially life ending. I
owed about 27k in 1998 when I graduated and although I had to make some
sacrifices, like driving my college car longer than I wanted to, it was okay
in the end. I paid more than the minimum and applied every bonus to the
principal. In the end, it was all paid off and everything was okay. Back then
rates were around 5% for the loans, they are much better now.

Here's another story of someone who thought $20k was so hopeless he's fled the
US and says he will not return. Frankly if you are in that situation then you
picked a terrible major.

[https://www.cnbc.com/2019/05/25/they-fled-the-country-to-
esc...](https://www.cnbc.com/2019/05/25/they-fled-the-country-to-escape-their-
student-debt.html)

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lysium
I don’t understand the hypothesis of the experiment. People are better off if
you gift them a lot of money? Who would have thought?

On a side note, I highly dislike that Bloomberg hijacks the back button

