Elie Mystal’s Student Loan Bailout Crusade

Elie Mystal is a man obsessed. From his perch as Editor of About The Law he has encouraged law grads buried under student loan debt to emigrate, sacrifice and revolt in order to right student loan wrongs.

Today, he takes his soapbox to the Stimulist and offers President Obama some “simple solutions” to easing our student loan burden. He warms up with suggestions of lower interest rates and salary-based loan forgiveness, before throwing one into center field.

FULL STUDENT LOAN BAILOUT
This is the most controversial plan, but it is also a total solution. The real questions here are about the depth of the administration’s commitment to education and encouraging public service. The government will pay for your education if you serve in the military, but is fighting and potentially dying really the only kind of service Americans honor? What if a history Ph.D. taught in an inner-city public school for a few years and was then relieved of his or her educational debt? That sounds like a win-win (no, teacher’s union, I did not ask for your opinion).

In this era of bailouts, can’t we find some money to help students buy themselves out of debtor’s prison? We can even call it “Dollars for Degrees”—Congress loves alliteration.

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