Saturday, March 07, 2009

I've been pondering something for several days now, with varying degrees of anger and perplexed confusion. I have several friends who are all behind the Facebook initiative to provide forgiveness for student loans. And I find myself bone-deep opposed. Just viscerally opposed. It is on such a gut level that I am actually amazed- that something that would benefit me and Kman would inspire such venom in my soul.

Here's my issue. I am not in need of a fucking government handout. I do not want the loan that I signed the promissory note for to become an additional burden on the American taxpayer. I budget to afford the payments, and don't really mind that, as it was part of the overall cost when I signed the papers. I will repeat myself. I don't need a fucking government handout. I understand what that would mean, and think that it would be a travesty. I would prefer that the money goes to people who deserve and need it more.

My interpretation of the effort, which to be fair, is probably a tad jaundiced, is that these are a bunch of college-educated middle-class kids who believe that they should be allowed to re-allocate their loan payments towards something more to their liking. And if it is a true financial hardship to make the payments, ought to consider coming up with a budget, or getting another job. Because no one put a gun to their heads and made them sign the promissory note in the first place. No one said that they had to go into debt to get an education. Plenty of people work their way through school, and yes, it takes one hell of a lot longer. But they do it. Others attend cheaper colleges to afford it. Something about keeping the long-term goal of living debt free in mind seems to have escaped some of these folks. And it pisses me off. Fucking whiners.

Now that I have vented, I know that I am probably being unfair. If so, please educate me. Tell me why it's a priority to provide loan forgiveness and a larger tax burden. Tell me why these college-educated people need money that jobless people also need. Tell me why. I want to understand, but my emotions keep getting in the way. I don't want a fucking government handout. That's what resonates in me right now.

I am unsure how far their efforts will go. I kind of doubt that congress can get this one passed- it seems like a really tough pill to swallow. Especially if there is an across-the-board examination of what these people bring home pay-wise. I suspect that the money would be better spent providing scholarships to kids whose parents have lost their jobs. Or to spend the money on a boosted unemployment system, perhaps. Or to assist people who have lost their jobs in paying their house payments/utility bills, etc. Or to bolster the budgets of local food banks. All more worthy in my opinion than a bunch of people who don't want to be bothered to pay for their own fucking educations.

Ah, and there I go again. Getting all worked up. Nice. I had hoped that writing this down would temper my ire a bit. But I don't think it's going to happen like that. I think I am going to keep getting pissy. So seriously, if you have a differing opinion, please share. I want to understand. And I promise to keep my temper under control and listen. Or do my best to try.

3 comments:

Anonymous said...

i think each case would have to be scrutinized--which, of course entails more bureaucracy (read: Big Gobment) and we know how some people feel about that.

i am pretty much w/you on this.

kim wells said...

I tend to agree, too. I think a bailout for people who don't need it is wrong. I like your ideas in the second to last para-- where the money would be better spent.

But to play devil's advocate: the middle class gets screwed so often in these deals. I was poor enough before getting married that I wouldn't have needed loans-- I got grants. And then after marriage, we handled it all ourselves just fine. But I see so many students, middle class kids with several siblings, who have to get loans cause they "make too much" to qualify for grants & have siblings and parents who work hard. And I think the loans can really catch up. And if they DON'T have jobs (some of them just don't get work. I mean, look at me; I'm a big old unemployed PhD loser!) then the loans are just there all the time.

So, I don't know. The case by case thing sounds good to me-- if people aren't working, or are underemployed, they would qualify for help? But like LX says-- that makes more beaurocracy.

But how much do those loans really take out of your pay? Like I said, we paid for all of my college either directly or I did through working as a TA or somesuch nonsense. So we don't have that kind of debt, never have, so I don't know how it works.

How much of a burden on your life is the payback? And also, how many people default on those loans? I'll bet a lot.

slyboots2 said...

See that's the problem. So many people have gotten themselves into a jam, and their loans are just symptomatic of something bigger. And the student loan structure changed drastically after I graduated. I will agree that some of them are screwed. I don't know if you can actually default- don't they garnish? I do know that most student loans aren't dischargeable with bankruptcy.

I just don't know.