Patriot Retort: I follow attorney Will Chamberlain on Twitter. And while sometimes I disagree with him, I have found that he often makes me think of things in a way I hadn’t before.
When Liz Warren announced her “make everybody else foot the bill for student loan debt” proposal, Will had a pretty unique take on it.
In short, he thinks the solution to crippling student loan debt is to seize the endowments of universities to pay off the debt.
When it comes to endowments, universities are swimming in cash. We’re talking billions with a B — as Inez Stepman pointed out last month:
Galaxy brain level idea: if we’re eating the rich, @AOC, why would we exempt Harvard’s 39 BILLION dollar endowment from taxes? Why is anyone taking out a single dollar in loans to go to Harvard with that amount of cash laying around?
Why? Because student loans are guaranteed by the Federal Government (AKA taxpayers). There’s no downside to charging outrageous tuitions because at the end of the day, whether the student can’t pay back the loan or not, universities will get that money. more here