The concept of personal responsibility is conspicuously absent from the debate on student loans forgiveness.
Many college graduates smothered by student loan debt are struggling to make payments due to unemployment, being under employed or simply having accrued too much debt.
Proponents of student loan forgiveness blame Congress for creating an environment of predatory lending by removing standard consumer protections and sanctioning unusually powerful collection tactics. When Congressional failure is combine with other systemic problems such as a high default rate, a poor quality of education, poor loan administration and system wide corruption, proponents say that students are the victims of a scam and deserve to have their debt forgiven.
Regardless of perceived failures by Congress or the student loan system, personal responsibility and accountability must have a place in the student loan debate. Student loans are not forced on students - the loans are choices. It is often a series of decisions that determine the price tag of a college education and how many loans will be needed to cover expenses. Students are free to choose which school to attend, whether to live at home or on campus, what degree to obtain and whether to work while attending college. They can also choose to excel academically or athletically and obtain scholarships or they can choose to enlist in the military to be eligible for education benefits.
Loan forgiveness for debts incurred through personal decisions would teach an entire generation that it's not responsible for its choices. College was once viewed as an opportunity to improve earning capability and people would sacrifice a great deal to obtain a degree. Now college is often seen as a place for young adults to "find" themselves and there is a casual disregard for the accruing tab.
Students want bailouts. Corporations want bailouts. Homeowners want bailouts. Perhaps taxpayers should get a bailout from funding poor decisions.
Many college graduates smothered by student loan debt are struggling to make payments due to unemployment, being under employed or simply having accrued too much debt.
Proponents of student loan forgiveness blame Congress for creating an environment of predatory lending by removing standard consumer protections and sanctioning unusually powerful collection tactics. When Congressional failure is combine with other systemic problems such as a high default rate, a poor quality of education, poor loan administration and system wide corruption, proponents say that students are the victims of a scam and deserve to have their debt forgiven.
Regardless of perceived failures by Congress or the student loan system, personal responsibility and accountability must have a place in the student loan debate. Student loans are not forced on students - the loans are choices. It is often a series of decisions that determine the price tag of a college education and how many loans will be needed to cover expenses. Students are free to choose which school to attend, whether to live at home or on campus, what degree to obtain and whether to work while attending college. They can also choose to excel academically or athletically and obtain scholarships or they can choose to enlist in the military to be eligible for education benefits.
Loan forgiveness for debts incurred through personal decisions would teach an entire generation that it's not responsible for its choices. College was once viewed as an opportunity to improve earning capability and people would sacrifice a great deal to obtain a degree. Now college is often seen as a place for young adults to "find" themselves and there is a casual disregard for the accruing tab.
Students want bailouts. Corporations want bailouts. Homeowners want bailouts. Perhaps taxpayers should get a bailout from funding poor decisions.
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