The August 31st deadline for student loans is quickly approaching. This will be the last deadline to push off student loans before the November mid-term elections. Look for a radical move by Joe Biden in the coming week.
I look to Joe to again delay payment AND transfer a portion of each student’s debt onto the American taxpayer. This is incredibly unfortunate.
Student loans have truly become an entitlement, much like Medicare or Social Security. They have become a chain for our young adults. Our government has become the Pied Piper with the temptation of borrowing massive amounts of money… money that would never be loaned without the federal guarantee.
Think about it. Imagine being 18-22 years old going to Fort Community Credit Union and asking for six figures over the course of four or five years. No collateral.
The system is broken.
Student loans are the primary reason college is so expensive. This massive amount of money that can be borrowed has gone right into massive college tuition inflation.
For what? So professors can tell students that there are infinite genders? If you want to see some interesting numbers, check out the cases of STDs U-DUB-DUB. Talk to a UWW student and they may tell you that they have “invested” their loans in crypto. This happens so often that it is mindblowing.
Barack Hussein Obama made this so much worse when he started the student loan forgiveness program for government employees. Yes, if you are not aware, a government employee can have his/her student loans forgiven after ten years. With the income based payments, many govt employees will have never paid a nickel toward their principal at the time of their forgiveness.
And Obama, I believe intentionally, grossly underestimated the cost of forgiveness on the American Taxpayer.
And let’s call a spade a spade …. a very large portion of student loan money goes directly (and indirectly) towards progressive programs, such as the Diversity Department at UWW.
Student loans have also become a form of welfare. And the value of an advanced degree is so watered down that many times is makes zero difference in hiring, especially in the private sector. It is scary how many UWW students keep going on for advanced degrees since they can’t find a job… and with that comes more borrowing $$$.
The solution at the federal level is simply to completely and totally remove the student loan guarantee. Obviously this will never happen, but it is the right thing to do due to politics.
On a personal level, refuse to borrow money. PERIOD. Especially student loans. It is called financial responsibility. If everyone refused this temptation, college costs would come soaring down. And it is nothing more than a temptation….
So, next week as Joe Biden moves billion$ of dollars in student loan debt into the laps of the American taxpayer…. creating more inflation…. remember that this is the direct result of progressive politics; temptation, blame, envy, irresponsible spending, lack of responsibility in general…. remember you and your kids do not have to be a part of it.
Like this, hate this…. let me know your comments.
-mike
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Discerning Whitewater 