Professor Catherine Wilson presented her paper "Economic Justice and Student Loans" Preventing Student Loans from Crippling Social Mobility," at UC-Davis.
Below is the abstract from that paper:
Student loan debt now exceeds $1.1 trillion. With student loans now counting for a higher percentage of household debt than credit card and auto loans, numerous reports are highlighting the impact that the student loan debt load has on social mobility by delaying many of the life choices that generate wealth. Recent calls for financial aid reform seem to focus on tuition reforms, increased disclosures about student loans and repayment options, and changes to the Bankruptcy Code. This paper adds to this discussion by evaluating modifications to the current American Opportunity Tax Credit (AOTC), a refundable income tax credit, in a way that helps reduce the debt costs associated with acquiring an associate’s or bachelor’s degree. The AOTC tax credit should be modified to provide more immediate support to students.