Forgive Student Loan Debt?

Life Should NOT Be a Struggle

Last summer, it was reported that the amount of student loan debt in the US had exceeded personal credit card debt for the first time in history.  Then, last week, it was reported that the exponential rise of student loan debt is expected to top $1 TRILLION (that’s a 1 with 12 zeroes behind it) by the end of this year.  One has to question how all of the middle to lower income and working class folks, who bear the burden of most of these loans, will ever be able to pay them back.  Former President G.W. Bush basically outlawed any individual’s ability to eliminate their student loan debt through bankruptcy. Yet, the government allows big corporations to get away with avoiding their financial obligations to the country, knowingly allowing offshore accounts and tax shelters, and overseas factories with slave labor, etc.  Funny how that works…

The student loan business has, in itself, become big business in recent years.  With the advent of all of these “cyber colleges and universities”, where seemingly anyone can hang a shingle and get accreditation, the enrollment of students and securing of student loans to pay tuition costs, has opened up a brand new area of sales, with commissions paid based upon the amount of the loans.  These shysters don’t give a crap about the person they’re enrolling or, in their ability to pay back the loan when they’re finished with their ‘education’.  They really don’t even care if the person ever attends a class.  Once they’ve helped the student secure a loan, they’ve made their money…  Of course, the above example is but a portion of the amount of student loans generated but, it is an area of abuse within the system.

For those with student loan debt, there are payment plans available.  Some that I’ve looked at are worse than the ARMs (adjustable rate mortgages) that were a huge contributor to the housing market failure.  There are a lot of hard-working people out there that are sacrificing to make payments to get their debt paid off.  And, there are many who won’t see a tax refund for years, because any refund they get goes toward their debt.   But, there’s just as many of these college graduates who haven’t realized the benefit of a higher income they were led to believe they would be able to attain for having graduated from college.  That was the plan:  go to college – get a degree – make more money…   I know of recent grads who are working at the local pizza parlor or McDonald’s because they can’t find a job anywhere else.  What happened to “The American Dream”?  Corporate greed and corruption, that’s what…  Gross profit for the few at the expense of many…

Back to this debt issue…  When I first saw the headline last week of the trillion dollar student loan debt, I thought it would be an interesting topic to blog about.  And, while scanning through recent articles on the topic, I ran across several suggesting that the government forgive the student loan debt, as a way to stimulate the economy.  There’s even a facebook page/group devoted to this very topic:  http://www.facebook.com/group.php?gid=46657437878     And, I don’t have a problem with that at all – forgive the student loan debt – all of it.  That’ll stimulate something.  See, I believe that a college education should be free to anyone who wants one.  And there shouldn’t be any disparity between universities, either.  If the Harvards and Stanfords provide the best education then, make them all be like Harvard and Stanford.  If ever equal opportunity is to exist, then everyone needs to have equal opportunity.

I support the implementation of an Equality based Equal Money System.  The current money system is, for lack of a more fitting description, fucked up.  This debt based system caters to the elite – the richest of the rich – at the expense of everyone else.  It’s time to start over.  An Equal Money System is the solution to all of the financial woes of the world.  Within an EMS, everyone would be guaranteed an income from birth ‘til death, to provide for the basic necessities of life:   food, shelter, access to clean water, equal access to education and, equal access to quality health care.

Let’s do something that’s never been done before in the history of mankind.  Let’s create a world where no decision is based on profit but, every decision is based upon what’s Best for All.  If it’s Best for All, then it has to be Best for Me, too.  Investigate Equal Money.  Follow the link below, and join us for discussions about how an EMS will impact every facet of life as we know it.

Desteni Universe

Equal Money Website

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5 Responses to Forgive Student Loan Debt?

  1. Pingback: Forgive Student Loan Debt? « RandyKrafft4Equality's Blog | Student Loan Repayment

  2. Nico says:

    Interesting article! Still, living in adebt free world seems an utopia that is hard to turn into reality!

  3. jerry says:

    nice article, great info.. thanks

  4. Zach says:

    $1 trillion in student loan debt. Are you kidding me? Soon they’ll be projecting when student loan debt will surpass federal debt. This student loan bubble is going to end badly.

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