[meadsjn]

All federal loan borrowers would be enrolled in an income-based program where they paid 10 percent of their earnings each month, with a $10,000 annual exemption. Meanwhile, the government would collect the money directly from workers’ paychecks, just like tax withholding. One potentially controversial part: It would forgive up to $57,500 worth of loans after 20 years, but anything above that amount wouldn’t be forgiven for 30 years. (The current Pay as You Earn repayment program forgives all debts after two decades.) But borrowers who don’t like the income-based option could opt out and set their own payment timetable.

All those people trying to break free of the welfare state by getting an education will just continue to be domesticated livestock until ... until ... well, forrrr-eeeeee-ver.

Thank you, La Raza Rubio.

[wmap]

Part of this thinking it fits the politics and also gets us closer to problem solving. Has anyone been through bankruptcy?It works on main street. Has anyone ever had loans restructured or refinanced? It does work on main street. It is the idea and politics I think needs some pondering.