Abstract
The United States has a dual financial system; the FTE sector has financial assets, and the low-wage sector has personal debts. Financial policies after the 2008 financial crisis did not include effective mortgage relief for low-wage house owners. Housing, the largest asset of the bottom of the FTE sector, turned into a liability for poor black, brown and white mortgage holders. Education debts for low-wage workers trying to move to the FTE sector have grown to rival outstanding housing debts. These debts arise as states neglect public universities who raise tuition to replace state funds. For-profit universities inhibit reform of education financing as private prisons inhibit reform of mass incarceration.
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