Lately it seems I have been seeing postings about the repayment of student loans. The majority of these postings are complaints For reasons I've yet to understand they believe these loans should be forgiven. The interest rates are high and it is taking years to pay off. Did these folks not look at the interest rate when they contracted the debt ? Have they not since refinanced or restructured the loan ? I'm no banker or financial wizard but there are ways to reduce the interest rate and pay off the loan earlier. Somehow these folks, with their higher education, now feel they were taken advantage of. They wanted to go to school, they will say it was necessary to their survival, borrowed the money and now don't think they should have to pay it back. In other words, let those of us that are working, since high school since we didn't go to college, pay for your education with out tax dollars ! Why is that ? That is my question. I need a car to get to work. I borrow the money to get the car. Shouldn't I pay that money back ? The interest rate is high and it is going to take five years. I should be forgiven, right ? I needed the car for survival.
Well I say this, " intelligence is not so much the acquisition of knowledge, as the processing of the information that you already have. " Or I could put it another way, common sense will provide you with a lot of answers. If you borrow money common sense will tell you you have to pay it back. Set aside the moral obligation you also incur when you sign those papers, you are contractually bound to make repayment. The fact that you have received the " services " that you borrowed the money for, does not negate the debt. Why is that so hard for some to comprehend ? You don't have to like it but you have to do it ! A litany of excuses is not going to make the obligation any less. Bottom line is, you borrowed the money.
I wonder could it be that the ones complaining are not as successful as they anticipated ? Did they believe that a degree guaranteed their success ? That does seem to be a common misconception. Given the ease of obtaining a " degree " these days I am not surprised it has been devalued. I can get a degree online, for a nominal fee, in just a few months. If I really want one I can buy that paper from Notre Dame and it is almost indistinguishable from the real thing ! I remember when having a High School diploma was a big deal. Not everyone had one, for various reasons. Then they introduced the GED. Is that document as valuable as the genuine article ? Perception wise I mean ? So, just how does that degree from an unknown community college fare ? Just because you borrowed money to buy an education that doesn't guarantee success. There are plenty of successful people that do not have that " education. " It also doesn't mean the debt should be forgiven.
I want to write a book. Lend me 50,000 dollars so I can take a year off to write. I also need money to pay the publisher. If my book is a hit I will pay you back. If my book is a flop, ie: not successful please forgive me. Oh, and forgive the debt. Does that sound fair to you ? I mean I can give you plenty of reasons why I should be forgiven. It's not my fault I borrowed the money. I thought I would be a success and pay it back in a few months. I had nothing but good intentions. Don't hold me accountable for what others don't do. If others bought my book, or gave me a job making 100,000 thousand a year I could pay you back. Not my fault, not my obligation. I wrote the book or went to school. See the logic there ? Not my fault.
Well I say this, " intelligence is not so much the acquisition of knowledge, as the processing of the information that you already have. " Or I could put it another way, common sense will provide you with a lot of answers. If you borrow money common sense will tell you you have to pay it back. Set aside the moral obligation you also incur when you sign those papers, you are contractually bound to make repayment. The fact that you have received the " services " that you borrowed the money for, does not negate the debt. Why is that so hard for some to comprehend ? You don't have to like it but you have to do it ! A litany of excuses is not going to make the obligation any less. Bottom line is, you borrowed the money.
I wonder could it be that the ones complaining are not as successful as they anticipated ? Did they believe that a degree guaranteed their success ? That does seem to be a common misconception. Given the ease of obtaining a " degree " these days I am not surprised it has been devalued. I can get a degree online, for a nominal fee, in just a few months. If I really want one I can buy that paper from Notre Dame and it is almost indistinguishable from the real thing ! I remember when having a High School diploma was a big deal. Not everyone had one, for various reasons. Then they introduced the GED. Is that document as valuable as the genuine article ? Perception wise I mean ? So, just how does that degree from an unknown community college fare ? Just because you borrowed money to buy an education that doesn't guarantee success. There are plenty of successful people that do not have that " education. " It also doesn't mean the debt should be forgiven.
I want to write a book. Lend me 50,000 dollars so I can take a year off to write. I also need money to pay the publisher. If my book is a hit I will pay you back. If my book is a flop, ie: not successful please forgive me. Oh, and forgive the debt. Does that sound fair to you ? I mean I can give you plenty of reasons why I should be forgiven. It's not my fault I borrowed the money. I thought I would be a success and pay it back in a few months. I had nothing but good intentions. Don't hold me accountable for what others don't do. If others bought my book, or gave me a job making 100,000 thousand a year I could pay you back. Not my fault, not my obligation. I wrote the book or went to school. See the logic there ? Not my fault.
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