One of the reasons why the Association was established many years ago is to bring the awareness to the American public on potential challenges facing by Uncle Sam because of the national student loan debt. In fact, the first article written and posted in the BLOG was written on March 13, 2013. At that time, no one even believe what we have hypothesized. However, today, six years later, everyone confirmed what AAEA has predicted. Below are the recent examples of what the players have said:
- Current administrators.
- Wall Street.
- Politicians.
- Lawmakers.
- Reporters.
- Wealth Consultants.
- State agencies.
- Money managers.
There are many others that can be added to the above list. It took 6 years for everyone to realize that student loan debt accumulations are not a good thing. There are several things that one might be able to observe from the student loan debts: (1). common theme shown by the provided list above is nothing, but a reaction. They all reacted on something that has happened. But, we at AAEA applied data analytics can see what is coming; and (2). perhaps, the public rarely heard comments from the US higher ed institutions on loan debts, even the most respective School of Economics i n the country classified as the Fresh and Saltwater institutions seem to avoid talking about it, even though their institutions are one of the most important source of ideas and many of their faculty have won the Nobel Laureate award. One may ask, why are they so quite?; (3). the American public will hear less from student loans servicing companies, such as NAVI and NNI.
One needs to be proactive instead of reactive. However, bounded rationality, moral virtue and wisdom of which the Association has shared to the American public may have blinded players’ mind and soul such that a short-run maximizing model of Neo-classical paradigm is adopted, instead.