Just the other day President Obama made another one of his now infamous, unconstitutional, EXECUTIVE ACTIONS!!
This time he took on the evil student loan lenders and the massive amount of student loan debt accrued by individuals over the last 10 to 15 years. I too am a part of that group of individuals as I currently have over $50,000 in student loans.
The student loan issue goes far deeper than just the outstanding loans. The underlying issue is the fact that we in this country face an idea that every single young person leaving high school must go onto college or they will surely grow up to be a failure. This couldn’t be farther from the truth as there are plenty of jobs available such as electricians, plumbers, and even garbage men, etc. and each of those professions, albeit, not all are the most sought after jobs, can earn one a nice salary.
So those that do make the choice to go to college are faced with many decisions. I can attest to the decisions that must be made beginning with deciding what to study. Once that decision is made, it then becomes necessary to decide which courses to take. This is where the problem lies. We as college students are required to take far more courses that should be necessary to fulfill the requirements for the projected major. Why is it necessary to take history in college to become a math teacher or to take math to become as a history major. And then you have the completely useless “electives” that are required for… well I still can’t figure out why we are required, and we are required to pay for those ridiculous courses. If one could simply take the necessary courses to complete their major we could both cut back on the time it takes to complete college and cut back on the amount of money spent.
Once college is finished many are faced with the task of repaying upwards of $100,000 in student loan debt. This arduous task is made even more confusing as there are countless repayment plans and the unending interest that is tacked on as the payments are made.
Just the other day our glorious president announced that student loan repayments had to be capped at no more than 10% of what an individual earns. This aspect of the plan I can agree with. What I absolutely cannot agree with the idea that after 20 years the remaining balance of the student loan debt will be forgiven. How the hell does he simply say ones debt will be forgiven? Where does he get the power to forgive debt? And where does the money come from to repay the debt he magically made disappear from ones account?
This is the mentality that has to change and it has to change now. Time and time again the government takes on the role of chief financial officer of our lives as they arbitrarily pick and choose what debts will be forgiven, who qualifies for low income housing, how many food stamps will be doled out. What people fail to realize is that the money comes from somewhere. The government cannot just make debt disappear without another person or group of people assuming that debt in some way. Until this changes we will continue to see the lower class individuals skate along at the expense of those who work for a living.