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This was a pretty odd article by the Atlantic ... but the more I think about it, the more logical it seems: http://www.theatlantic.com/politics/archive/2013/08/how-detroit-can-help-solve-americas-student-loan-crisis/278875/
Although I don't like it, I think it's inevitable that the federal government will get involved in trying to save Detroit. Meanwhile, student loan debt has become a huge issue in recent years, with a lot of talk of forgiving some of that debt to spark the economy. The idea here is to combine those two ideas, and use student loan debt forgiveness as a way to drive young, educated people to Detroit and other areas that are stagnating or in decline.
I have problems with both federal intervention to save Detroit and the forgiveness of debt. However, combining them seems like it could be much better than the alternative -- blanket debt reduction, or blanket aid to a very poorly run city.
The only problem I can see with this idea is that there would have to be jobs to employ the people as they moved there. I'd think that problem would probably solve itself after a time, as more people moving there opened businesses or companies migrated as well knowing there was a large concentration of educated workers there, but there'd probably have to be an initial tax incentive to encourage businesses to move there.
Anyone notice anything blatantly wrong with this that I can't see? Other than something like this inevitably becoming a political fight for the benefits of it. Or the fact that you'd have to live in Detroit.
Although I don't like it, I think it's inevitable that the federal government will get involved in trying to save Detroit. Meanwhile, student loan debt has become a huge issue in recent years, with a lot of talk of forgiving some of that debt to spark the economy. The idea here is to combine those two ideas, and use student loan debt forgiveness as a way to drive young, educated people to Detroit and other areas that are stagnating or in decline.
I have problems with both federal intervention to save Detroit and the forgiveness of debt. However, combining them seems like it could be much better than the alternative -- blanket debt reduction, or blanket aid to a very poorly run city.
The only problem I can see with this idea is that there would have to be jobs to employ the people as they moved there. I'd think that problem would probably solve itself after a time, as more people moving there opened businesses or companies migrated as well knowing there was a large concentration of educated workers there, but there'd probably have to be an initial tax incentive to encourage businesses to move there.
Anyone notice anything blatantly wrong with this that I can't see? Other than something like this inevitably becoming a political fight for the benefits of it. Or the fact that you'd have to live in Detroit.