Mayor Welsh Addresses ITT Tech Boson Convocation - Speaks of the Pros and Cons of Cancelling Student Debt - 2 Oct 2019

Boson Mayor Martin Welsh addressed the Convocation 2019 of Boson ITT Technical on the issue of college debt.  Student loan debt in the United States has risen to $1.6 trillion owed by tens of millions of people, leading to calls for it to be wiped out, although opponents are concerned about the economic and ethical consequences. Mayor Welsh evaluated the pros and cons of canceling student loan debt.

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PRO

Money a big deterrent against poverty

Might be cool to live in a society where people can afford to learn things and better themselves

Will infuriate Boomers

At this point, who’s going to notice another $1.5 trillion in the deficit?

Makes it easier to get approved for much larger grad school loan

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CON

Millennials will obtain a sense of security and self-worth

Would endanger careers of thousands of telephone debt collectors

Ability to afford basic necessities would mean less time spent with parents

Alumni association callers will assume you have more cash to burn

Teaches regular people dangerous and false lesson that they’ll be treated the same as rich people

Student artwork expressed the feelings of many of the scholars as they pile up massive loans and hope they can get a job that might help them pay for their schooling.





The work is entitled "Debt Slavery" and the creator claims they used their own blood in the red bands seen in the sky.  The estate of Edvard Munch has sued the student artist for copyright violation.

The penniless student artist responded with a 'self portrait and a PDF file of US Copyright laws that allow parody.