What is this
I hear about forgiving student loans? I’m sorry college tuition and fees are so
exorbitant, but students and their parents chose the University they decided to
go to. No one forced them to go to a specific school. College tuition isn’t a
surprise. The cost of a school’s tuition and fees are available on the school’s
website. Further, every University will be glad to provide an estimate of fees
to pay upon request. Everyone attending college knew the cost of tuition and
fees before attending. Why should I or any other American foot the bill for
others? We all are accountable and should all have to pay back our loans.
Student loans are not gifts. That’s why they’re called loans.
However, not everyone feels like that. “Advocates of loan forgiveness claim that
banks take advantage of student borrowers, who are “forced” to pay those high
costs of debt repayment. But they are not forced; the loans are absolutely
voluntary. Moreover, student borrowers are painfully well-informed. Students know how much they’re borrowing, how
much they’ll pay back, and how much of that amount is pure interest. Some may
argue that 18-year-old students can’t comprehend what they are agreeing to, but
this argument, if consistently followed, would deny thousands of young
Americans the opportunity to attend college.”(Insidesources)
Every few months or so I hear a story
about someone suggesting the U.S. government forgive student loan debt. Former
students tell stories of unemployment, worthless majors, low-paying jobs and
resulting six-figure debt, insurmountable interest, forbearance and default.
From a human standpoint, it’s easy to see why forgiving student debt holds some
appeal to some. Usually, it’s the student or parent lamenting. However, many
have questioned not only the “enormous and economically unfeasible cost, but
the purported benefits and fairness of a one-time student loan bailout.”(A look
at Shocking Student Loan Debt Statistics for 2017)
“Americans owe over $1.4 trillion in
student loan debt, spread out among about 44 million borrowers. That’s about
$620 billion more than the total U.S. credit card debt. In fact, the average
Class of 2016 graduate has $37,172 in student loan debt, up six percent from
last year.”(StudentLoanHero) Yes, that’s a great deal of money, but no one
forced any student to take on that much debt.
Forgiving these loans would cause a huge
deficit for the country. There’s no argument there. In the end, the average
taxpayer, you and me, those who didn’t rack up this debt would eventually be
the one to pay it off. That is always what happens. Remember the huge auto and
bank bailouts made in 2008 by the U.S. government. American taxpayers financed
that. One former student even proposed a one-time bailout as a solution to
stimulate the economy. “After all,
college graduates are the type of people society needs to do things like start
businesses, buy homes and cars, invent things and make babies — and people
burdened with debt are less likely to make those kinds of decisions. Unburden
them and the housing market might improve, along with the overall economy. With
the stroke of the President’s pen, millions of Americans would suddenly have
hundreds, or in some cases, thousands of extra dollars in their pockets each
and every month with which to spend on ailing sectors of the economy,” -
(Time.com)
It sounds like a very expensive idea,
doesn’t it? Of course, it is. But so were the bank and auto bailouts, you might
say, which I also objected to and with good reason. Why should American
taxpayers bail out anyone for voluntarily taking out loans that they signed
for? The answer is easy. We shouldn’t. Not now. Not later. I paid for all my
years of University education. So have many others and they continue to do so
through scholarships, grants, and working.
The argument presented by some students
and those supporting student loan forgiveness that it will strengthen the
economy by putting more money into their pockets to buy more things just doesn’t
cut it. They didn’t pay for their student loans, do we actually want to give
them more money than they already haven’t earned? Do we dare give them credit
cards when they already proved they couldn’t handle debt? Could we really
expect them to behave responsibly when they got a free ride through college? I
think not.
Are there mortgage loan programs for
forgiveness? No, though the government was quick to come in 2009 to forgive a
great number of mortgage loans for those that willingly and knowingly purchased
houses they couldn’t afford, and shouldn’t have been allowed to buy. The
average American who purchased a house within their limits and continued paying
for their homes through the crash received nothing from the government. Are
there auto loan forgiveness programs available? No. How is it students deserve
to be forgiven their student loans?
As if this forgiving student loans idea isn’t
enough, we have the Republican Congress currently considering changes to the GI
Bill which would force veterans to increase the amount they are paying to
access their education benefits. WTF! Huh! What! Are you kidding me? This is
also a total load of crap on top of forgiving student loans. Don’t believe me,
here is the petition that is circulating. How can you consider forgiving
student loans when you want to charge more to those actually serving in the
military?
You bet right that I signed it. First, I’m
an American. Second, I’m a Veteran. Third, I’m a disabled veteran. Anything that
inflicts veterans I stand up for loud and clear.
Attending University and college in
America is expensive. There is no argument on that. Throw other fees on top of
it and it is astronomical, but no one is telling any student to take on more
than they can handle. That is a choice. I tell all my students that a college
education is an investment. An expensive
but necessary one. Fact is those who have a college degree earn more than those
without one. Those without a trade earn
less than those with one. Student loans allow people without resources to
undertake this education. It’s not a hobby. You shouldn’t go to college or
trade school if you really don’t want to just because everyone else is going,
or your parents expect you to. Not everyone can afford to go to Princeton, Yale
or others expensive Universities. Why go there if you can’t afford to? Why take
on such debt just to keep up with others? There are community colleges that
cost nearly nothing depending on where you live and where you go. Public
Universities subsidized by the government are also cheaper. One can also apply
to a military academy and get a free education. There is no need to amass a student debt for
more than you can afford. Forgiving student loan debt is bad in so many ways.
Work hard, get the best grades and apply
for scholarships. Get a grant. Incur fewer debts. Get a job and work after
school, on weekends and during summers. Think about this, if the government was
to allow student loans to be forgiven, without any repayment necessary, would banks
continue to give loans they’d never get paid back. I don’t think so. Many
people wouldn’t be able to go to college or trade school at all. Lower-income students would especially suffer
as a result. Why save any money for college if loans will be forgiven?
Here’s an idea: If students really want
student loans written off, they need to give something in return. Write off a
student loan for those joining the military for a minimum of say, six years.
Just like those students that attend the military academies, or those getting ROTC
scholarships that cover all expenses. They already forgive student loans when
you work for certain government jobs and in the military for a certain time,
but to completely forgive student debt simply because it’s too costly is a bad
idea. For you and for me. That is my opinion. How do you feel about forgiving
student loans? Do you think the American people should just write off millions
of dollars that would otherwise go back into the economy? As a result, you and
I would have to foot that bill with higher taxes. How else would the government
get their money back?
For More information:
A Look at
the Shocking Student Loan Debt Statistics for 2017
Is Forgiving
Student Loan Debt a Good Idea?
Forgive
Student Loans? Worst Idea Ever.
Don’t
Forgive Us Our Debts: The Case Against Student Loan Forgiveness
That’s it for this time. Thank you all for visiting with us. Until next month, every one please stay safe. Smile. Be happy. Show compassion. Be nice to others. Put a little love into your heart. Please speak up for those without a voice, whether it be a dog, cat, elephant or monkey. One person, one voice can make a difference. Read a book. Review it. Share it. Pass it along.
Make adoption your first option when seeking a pet. Adopt. Don’t shop. Can’t adopt. Please consider fostering one. The animal will have the taste of home and the shelter will cover the expenses. Can’t foster? Make a donation or volunteer at your local shelter. Please, don’t hunt. Unless you’re starving down in a ditch somewhere, there is no logical reason to do so. Whatever you do, however you do it, please be a voice for the animals large and small. All it takes is one to make a difference, good or bad.
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Regards,
S.J. Francis Writing is my passion, but animals are my world.
In Shattered Lies: "Good and bad, it's All About Family." Available now from Black Opal Books and for sale at on-line retailers and independent booksellers.
“Some secrets should remain that way.”
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And now for some legal stuff: Copyright 2017 by S.J. Francis. Opinions expressed here are solely those of the author, S. J. Francis and are meant to entertain, inform and enlighten, and intend to offend no one.
Remember: Animals don't have voices. We must be their voice. Always. Forever. Wherever. whenever. I'm one for the animals. Are you?
