The New American University

American citizens are burdened with $1.7T in student loan debt, only half of which is currently being repaid because of default, forbearance, or some other type of deferment[i]. Politicians are exploring ways in which this loan crisis can be addressed, including debt reduction or debt elimination. While the prospect of having debt eliminated might sound good to former students who are struggling to find product-market fit (a sustainable job), it does not solve the root cause of the problem. Even if we wipe the slate clean for every former student (now and again in future instances), we will return to the…