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DustinAgain119 karma

Hello - I'd like to get your perspective on how SLABs play a role in the education system, if at all, in your research? (SLABs are Student Loan Asset Backed Securites, and are used in banking similar to the way Mortgage Backed Securities did before the 2008 crash.)

My curiosities are two fold-

  1. How cancelling student debt would affect SLABs and Wall Street's balance sheet, and could this be a reason why Washington isn't really talking about it cancelling student loans anymore?
  2. Do you feel the removal of the SAT and PSAT are beneficial? Given the sad state of tuition costs, i fear it will lure unwitting people into the endless lifetiem of debt for the gain of banks / wall street.

DustinAgain13 karma

I really really really hope you're right. I don't have any loan debt thank god, but I know alot of folks who do and this would be like them getting a >50% raise.

DustinAgain3 karma

I really appreciate your answers, and posting this AMA! Its a topic I've been interested in recently, not for me as I do not have student debt personally anymore. But for my colleagues- they are stuck in the cycle of never ending loan debt, and having it forgiven in any substantial amount would equate to significant pay raise / standard of living increase for them.

Learning that the SLAB is only used with private loans is new information to me, and lightens my tinfoil hat theories around removing the SAT requirements in order to keep a lifelong debt machine turning.

Appreciate it!