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this post was submitted on 02 May 2024
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Oh oh, and if you work in the country for 5 years they'll pay off your US-based student debt if you have any
Why? If students have so much debt they cannot use the American credit system, and they have equity in a house in China, they'll stay in China.
The obvious choice would be to stay of course. But the offer with the chance of wiping debit in the even they didn't want to stay gives a "safety net" vibe. Puts a nice outline with a goal of taking out two birds with one stone. And if a student doesn't want to stay even with having their original debts, it doesn't prevent them from still getting a degree without owing extra. Some people like to know they have options (even if the options are in most cases dumb)
Investing in the education of someone who immediately goes back to America is a loss.
The whole point is that you take young, economically productive people out of America and instead get to benefit from their labor and skills.
Paying off their loans when you could be doing economic damage to America is counterproductive.
Also a free education, the ability to own a home, and not supporting the country that just beat the shit out of you and your friends for peacefully protesting their support of a genocide is more than enough carrot.
If they did 2 years at a private school and have 100k in debt, they'd still have to pay it if they transferred to China. China could offer full debt repayment to them and shame the Ds.
100K debt to the american gov't only matters if you ever plan to use credit in America. Paying off these people's debt just allows them to return to America and use their education to buy a house in America, get a job in America, and support the American empire.
Also it's especially funny if the reason they can't return is entirely because America decided to saddle the very people they need to function with undischargable debt they have no hope of paying back.
Interesting... I mean, the assumption is that they would still be paying American taxes because the USA doesn't allow you to renounce your citizenship and if you're a citizen you pay income tax regardless of where in the world you own it. So I just figured the debt hanging in the USA would somehow harm these students if they moved to China but you know what? You're right. Get the students to stay and default on their debt and collapse the debt pyramid scheme
How is the USA going to force you to pay taxes if you live in China? You can just...not do it. Just make sure all your assets are in Chinese accounts first so they can't steal your shit.
I didn't even think about how every student that does that represents a loss of 100K for some bank, I was just thinking the lost labor since students just out of college generate huge amounts of wealth while barely able to scrape by.