Forgiving Student Loans: Worst Idea EVER!

So let me get this straight.

College is expensive. Students and families KNOW this before opting in. They do it anyway.

College is so expensive that loans are required, in most cases, to finance it. So what? Houses are expensive. Cars are expensive. They require loans, too. Will politicians start proposing the “forgiveness” of mortgages and car loans?

Forgiving student loans? It’s insane. I can’t believe it’s even a proposal.

Yes, I’m the first to acknowledge that government intervention in the marketplace has driven tuition higher than it would otherwise be, in a totally free market. Student loans are guaranteed, for example. That’s government intervention. In a truly free market, banks and lenders would actually turn some people down.

And then there’s the irony of colleges. Most universities are bastions of Communist, collectivist, socialist thought. Most call for wealth redistribution and declare hatred of all things profit-oriented or capitalist. They condemn greed. Yet is anyone greedier than the typical college or university? Imagine if ANY other commodity or service rose as fast and high in price as colleges. The denunciation would be fast and furious.

Colleges get a free pass.

I’m not suggesting colleges have no right to charge what the market will bear. But is it asking too much to demand some moral and intellectual consistency?

Forgiving student loans sends a horrible message. It tells young people: Do what you want. If you use bad judgment, or spend beyond your means, then no worries. The federal government will pick up the tab. Meaning: Your more productive and rational, tax-paying neighbor will pick up the tab.

It’s social injustice on an unprecedented scale — even to propose such a thing.

Forgiving all student loans, or even any?

It’s disgusting. It’s wrong. It will hasten the death knell of our society. It will crush the backs and the morale of the very hard-working, decent and self-responsible people upon whom the snowflakes of our faltering society depend.



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