First, I will say that this plan would benefit me and my wife, so yes I understand what it is to have student loans.
The only group that is truly going to benefit from this plan to cancel student loans is the schools. They will just continue to raise their tuition and collect more money. They will do this by convincing more possible students to enroll because the tax payers have their backs. Never mind that fact that those same student will find a nation deeper in debt, their cost of living going higher and their taxes going up.
According to many economist, this plan is going to cost the country much more than the $300 billion that is being reported. They are saying that is will be more than $500 billion or more. Plus, with the doors opened, is it going to stop in the future? Probably not.
I also believe that we will also see a larger number of people becoming a slave to their debts because they will think that the government will bail them out. They will not learn how to manage their money and fall deeper and deeper into the hole that the left wants them. This is just another attempt to enslave the people of the country in the control of the big brother socialist utopia.
Are we seeing the removal of personal responsibility? Yes. Gone are the days where you create a debt and you must pay for it. Gone are the days where you have to judge the difference between wants and needs. Sure there are some degrees that are needed to enter certain professions, but not all. However, while researching this topic I found that there are many degrees that cost more to obtain than the career path will ever pay that person, especially for those that believe they must attend the top universities of the country.
What is the fix for the cost of a degree if the loan cancelling isn’t the right step?
One thing would be to realize that not all careers require a degree to step into them. Start at the bottom and work your way up. Attend classes after to have the job or find a company they will help you obtain the degree. Heck, even McDonalds offers tuition benefits for it’s employee base, along with the truck stop companies like Loves.
Another way is to stop going directly into the universities and attend community colleges to obtain the general education classes out of the way before entering the university levels. Community colleges are smaller, cost less, and normally have many private groups and donors that provide grants to help pay for it.
If you must attend a university… Get online and search for the many hundreds of grants and scholarships out there.
There is no reason the nation should pay loans for others financial decision. If you make the choice to attend any college or university, it is on yourself to repay it. If that means the first few years you’re out of school you have to work two jobs, that was your choice, not the tax payer. No one forced you.
What I am hoping for…
I am hoping that this plan completely backfires on the left. I hope that the whole plan that they are doing slaps them in November. I hope the left find in November that the majority of American still believe in individual responsibility more than free handouts for debts. As I said, I personal can benefit from this train wreck, but don’t want it. I created my own student loans and I should be the one who pays for it directly and not through the illusion of a free ride. A free ride that will come from my own higher taxes and cost of living.