Debt and Study

Two interesting pieces on debt and education making the rounds today. One from Princeton, who announced that their financial aid program allows students to graduate without debt. 

“Princeton undergraduates are not required to take out loans to pay the costs of attendance. Their financial needs are met through a combination of grant aid and summer and term-time earnings, with the average aid package for the Class of 2016 consisting of $37,600 in grants and $2,100 for a campus job.”

The second is an essay called “Debt and Study” by Fred Moten and Stefano Harney.

“They say we have too much debt. We need better
credit, more credit, less spending. They offer us
credit repair, credit counseling, microcredit,
personal financial planning. They promise to
match credit and debt again, debt and credit. But
our debts stay bad. We keep buying another
song, another round. It is not credit that we seek,
nor even debt, but bad debt – which is to say real
debt, the debt that cannot be repaid, the debt at
a distance, the debt without creditor, the black
debt, the queer debt, the criminal debt.
Excessive debt, incalculable debt, debt for no
reason, debt broken from credit, debt as its own
principle.”

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