Reading this 2022 federal budget and just learned something that blows my mind… of the $637.7B allocated to Dept of Education, less than 10% is for K-12/SpecialEd. A whopping 88% ($561B) is for collegiate “financial aid “ (eg student loans) 🤯🤯🤯
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@andrewoetting
Lol. Does that hypothetically get paid back at high interest rates or is it pure spend?
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@typesfaster
That’s a good Q - in theory I guess on some of it the USG is making a 1.4% spread between the 5% undergrads pay and the 3.6% interest they pay on 30 year treasuries. Sick carry trade
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@andrewoetting
really need to look at spending (and types of spending) at all levels of government, since k-12 gets most $$$ there... 10%/88% split isn't comparable
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@powerbottomson1
100% -state/local govt pay the lionsshare of K12 ($700B). But that’s kinda my point… I was shocked that nearly all $650B goes to subsidizing college / saddling young people with inextinguishable debt! I bet most Americans would allocate a $650B education budget very differently
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@andrewoetting
@aginnt
what are you casually reading?
me: Twitter
Drew: The FEDERAL BUDGET !!!
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