I'm sorry the title of this week's post is too vague. Next time, no more beating around the bush. I'm going to say exactly what I think about this topic.
If you take out a loan to pay for your college expenses, you should pay it back. I'm not sure why this is even a discussion.
If you take out a loan to buy a car, you are expected to pay it back. If you take out a loan to buy a house, you are expected to pay it back.
A credit card is just a plastic loan. You are taking a loan to pay for something and you are expected to pay it back.
With interest.
However, over the past several years, people have noticed that it costs a lot to go to college and most people don't have that type of scratch lying around the house.
Some examples of college costs. This is for tuition only.
Harvard: $54,002 a year
Yale: $57,000 a year
University Of Georgia (Georgia resident) $12,068 (out of state) $31,108.
Ouachita Baptist University: $29,120
Kennesaw State University: $6436 (Georgia resident)
So you see, Kennesaw State is a bargain. However, Kennesaw State did not win the NCAA College Football Championship and that's why the University of Georgia costs almost twice as much for a resident of the state of Georgia.
Therefore, students and their parents must take out loans from the Federal Government to help pay for the cost of college. It is an expensive undertaking to train the leaders of tomorrow in the desks of today to become lock-in step members of the Democratic party.
One of the dirty little secrets of college is that if you stay long enough, you can graduate. Sure, you won't be a part of any college ad campaign, but you'll graduate. But along with the graduation comes the bill for the college loan and Lordy Mercy, people have to make payments on the loan they freely took out.
The newly graduated students soon realized that they can't buy that $650K house, or the $56K car, or the G.I.Joe with the Kung-Fu grip. And they began to complain.
Well, Uncle Sugar, President Biden, heard their complaints. If there's one thing we've learned about President Biden, he'll be in favor of anything as long as it might help him pick up a few more votes.
So President Biden is working on a plan that will forgive $10K of a student's federal college loan. Most of the pushback came from the "progressives" (i.e. those that majored in 15th Century Bavarian Hygiene at Ursinus College, tuition $55,210 a year) who said the forgiveness is just a drop in the bucket and wouldn't help that much.
If I know the current Democratic Party and the zeitgeist of the times, people like me (Hey, pay your bills) will soon be considered mouth-breathing troglodytes that want to keep women in chains.
Yet nobody is asking this question: Why does it cost so much to go to college? I went to college and I didn't see the expense. I guess you have to pay the professors. You just can't get that snottiness for free, buddy.
It is not just the cost of the professors. When I went to school, colleges had dorms. Usually, the dorms were cinder block structures and smelled terrible. The boys had communal showers where they took showers with other male students and soon learned that all men are not created equal.
Now they have these living structures that resemble apartments.
When I was in school, there was only one place to eat: the college dining room. It served food. When my son went to Georgia Southern University, they had several different places to eat. They even had a Chick-fil-A.
A significant expense of college is the Greek Fraternity and Sorority system. There, young people learn how to binge drink and score with members of the opposite sex.
What about those that take out the loans and actually (hold on to your hat) pay them back? Like my son. Like his parents. Explain how this doesn't make us look like a bunch of chumps.
But President Biden doesn't care about that. Just use a magic wand and wipe out a bunch of debt of some richy rich kids who hate the idea they can't upgrade their iPhone when the new one comes out.
No new ideas about building back a better way of going to college. Just let the kid who went to vo-tech to become a plumber pay for the education of the English major.
Seems fair.
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