Forgiveness
As a Christian, I am super into forgiveness. I think it is really great.
There’s a big debate about recent student loan forgiveness. And it’s so tricky, because there are so many different parts and pieces.
*I am so glad for some of my friends who are coming out of the heavy weight of student loans.
*I 100% believe that the college system in American is screwed up in many ways—specifically financially—and that the interest rates on student loans cross the line of “dangerous” into the realm of “evil.”
I am in the camp of people who actually think they didn’t go far enough:
*I am for forgiving student loan interest for EVERYONE. Why should a loan company make an additional profit off of someone else getting an education?
*I am for forgiving ALL student loans for those who were not able to complete there degree in 10 years (this should probably have a decent income cap though)
*I actually like this current plan, but for up to $70,000 family income (rather than $250,000).
It has been my goal to try to talk to every graduate about the ideas of gap years, community colleges, and technical training/apprenticeships. Don’t lock our creative 18 year olds (or other ages) into the idea they must do ONE THING. I also really like college. I went for over 10 years. I also paid almost nothing for it, if you average it out in the end (that is a whole other story).
I went to community college for most of the time, and lived at home or in Brazil and did classes online before it was cool. I applied for every single scholarship I was allowed to, and the grants I got exceeded the cost significantly. It was one of the ways I paid for my life in Brazil. There are ways to do it.
I am all for many kinds of student loan forgiveness. But not this one. I know there isn’t free money and forgiveness with money isn’t like forgiveness the character quality. It isn’t just sacrificing your pride: It is literally taking from something to give to something else. And in this case: mostly taking from those who have LESS (through inflation, which always disproportionately affects those making less more) to give to those who have MORE.
I think my mom loses sleep sometimes about my socialistic tendencies. I am pretty on board for many redistribution plans. But only when it is actually benefiting the poor.
If you know friends who are poor who are receiving student loan forgiveness, I argue that you don’t really understand what “poor” is. I wrote about it here, and I made a video about it here.
There are two big issues here: most people getting their loans forgiven honestly think they are poor, and this student loan forgiveness plan is based on/bragging about how it is helping the poor— or even calling it a form of reparations.
I don’t know enough about economics to honestly be worried about what it will cost me. I am glad that SOMETHING was done—although I wish it was done a different way, and I am very happy for my friends that received this. But don’t call it “helping the poor” when it is really about mostly helping white, upwardly moble people.
When I worked in inner city Indianapolis, I worked with a population that was in poverty. Our goal was to help kids in many ways, especially educationally. It was a major win when our kids graduated high school. I’d say probably about half of them did. I was ecstatic when a couple of them went to college, but at most, being generous, it was 10% of the kids we worked with. And of that, most of them never graduated. The internet says 4% of those in poverty get a degree.
Do not say that a student loan forgiveness plan that helps 4% of poor people is actually for them. It honestly just makes me sad because this (student loan forgiveness) could and should have been something wonderful, and now it is leaving a bad taste in my mouth. I want to celebrate it, and instead, I just see people lying to themselves, and not understanding what poverty really is.