There is increasing discussion and awareness around the increasing student debt load in America. Debt and its effect on our economy and national morale should be a cause for concern. I submit that student load debt mortgages our future indentures our youth, and helps maintain the current power systems. This obviously disproportionately hurts those who are the most vulnerable/”lower status” (e.g. women, working class, immigrants, people of color), hurting their ability to negotiate for equality.
Overwhelming debt hurts progress because, from my observed experience, less talented leaders, squander the intellectual capital of new graduates through a combination of fear, micromanagement and jealousy. This presents a risk in terms of both innovation (e.g. less diverse opinions) and the fact that folks will be opting out of the arts.
It also represents an operational and reputational risk, since when folks can be forced into compliance by money, we fail to live up to higher ideals.
This is not a new problem – it’s just gaining momentum.
Businesses have the opportunity to build trust with their employees – and co-create systems that offset the inequities that student loan debt creates and maintains. Empowering their employees to think like owners and act according to the highest of ideals.
& yes, I included the Shakespeare quote in a vainglorious attempt to justify my liberal arts degree.