College Debt; A Rip-Off For The Normal Person

 If you've been living in Barbados sucking down fruity cocktails you might have missed the latest story that Joltin' Joe is strongly considering reducing the debt of college students by $10,000 per year. Forget for a moment that the parents of 70% of these students make on average $300,000 per year. Also, please forget these spoiled little urchins promised to pay back any money borrowed. I wonder what would happen if these same kids took out a loan from Guido in NYC and then when he asked for his cash they said, "FU, moron."

Of course, yours truly borrowed money to attend Coe College in 1965. The government had passed a bill called the National Defense Education Act. It provided money for those students who told them they were going into the teaching field and upon graduation only had to pay back 50% of what they borrowed. My parents were making money slightly above the poverty level so I took advantage of what was being offered. You might have guessed by now that 70% of this borrowing went unpaid. I researched this 'thievery' a number of years ago and you might be shocked to learn that those who re-nigged became lawyers and doctors by a great percentage. 

On the other hand I was a stupid history/PE Major and along with my Catholic conscience felt compelled to pay back the loan. Two years after I graduated and into a teaching coach position I gave back to the government $50 per month until the debt was paid all the while raising two young children on $7,000 per year.. Boy, was I stupid or what? I can imagine having to hire a lawyer or some doctor who cheated his ass off while I was performing my civic duty.

Flash forward twenty years or so. My daughter ended up at the Univ of Northern Iowa costing me $12,000 per. My son, one year younger than my daughter, was at Iowa State and that cost us $15,000 yearly. Three years later our youngest matriculated at John Carroll Univ. at a cost $25k per. We paid the bills. It was our obligation.  It was our civic duty.

And now our government is strongly considering to eradicate student debt, a debt these kids promised to pay. Well, you know the outcome of this. The taxpayer, moi', will have to pick up the tab. I don't know about you but it doesn't seem quite right-----------especially considering these little pieces of vermin will probably vote communist.