Collective tokenized bargaining of student debt can be likened to a Monopoly game set in a world where collection agencies represent the “landlords” of the board, while students symbolize the “tenants.” The goal of the game is for students to take control of the situation and negotiate better loan repayment terms.
In this version of the game, tokens represent the bargaining power of the students, who are trying to band together to stand up against the collection agencies. Each property on the board symbolizes a different aspect of the loan repayment conditions, such as interest rates, repayment schedules, and grace periods.
As the game progresses, students collect tokens by forming alliances, sharing financial education resources, and working together to increase their bargaining power. The collection agencies, on the other hand, try to maintain control by imposing strict repayment terms and leveraging their authority with expectations for a large rent in fiat currency, often more than the tenants can pay.
The ultimate goal for the students is to use their tokens and collective strength to negotiate more favorable loan repayment terms with the collection agencies. By strategically placing their tokens on the board, the students can influence the repayment conditions and improve their financial situations. So what the students do is invest their tokens into markets and if they get a positive return in tokens, they can take the profit from their investment and collectively negotiate with the collection agencies to buy the debt. Since the students still have their tokens and only used the investment profit to negotiate, they can continue to support other students or keep their tokens and at the same time the collective erases their debt.
In this metaphor, the Monopoly game highlights the power dynamics between students and collection agencies, emphasizing the importance of collective action and negotiation to achieve better outcomes for those burdened by student loans.