Looming Student Debt Crisis Hits the Senate

One of the main problems in America today is a sense of entitlement—no matter what you call it or for whatever reason —many people want something for nothing. Unfortunately, our government is teaching Americans that some folks “can ride for free.” Look at the billions of dollars in bailouts for banks and industries that our great country has just wiped out for so many people—many people who would still have been quite wealthy had they not had their “losses” forgiven. I did not agree with our government’s choice to do that.

However, people need to focus on the fact that nobody forced anybody to go to college or to take out student loans. Student loans can’t just be wiped out! That money has to come from somewhere to repay those loans. This isn’t Monopoly money that we are talking about. While I can empathize with many of the comments on this petition from people about illness, hard times, etc., the same is true for people’s mortgages, car payments, etc. Just because someone is having a hard time doesn’t mean that his/her debts should be wiped away. I have gone to school almost my entire adult life. I am now in my 40’s and recently earned my doctorate degree. My education is something that I value greatly, but with it, I have accumulated school loans along the way. I did not come from a wealthy family who could pay my way. In fact my parents have both been dead for a few years now. I worked my way through college and often worked multiple jobs that nobody else would have wanted or would refuse to do, kept up good grades, supported two children, and helped care for my elderly, terminally ill parents. I endured some major medical issues of my own. It definitely hasn’t been easy, and I will still be paying on my loans for a while, but it can be done. However, there is no way I would expect someone else to pay off my loans—loans which I borrowed sparingly and used for the purpose for what they were intended—tuition, books, etc.----not fancy vacations, luxury gift items for spouses and children, clothes, expensive furniture, 2nd homes, partying, etc. like many people with whom I have gone to school with and now work with. Now some of those same people are whining about how much money they owe and how they will never be able to pay it back—or that they really want a new luxury car or a bigger house…… Talk of such possible loan forgiveness plans have been around for awhile, and many of the folks I know who owe well over $100,000 continue to borrow money, continue to get degrees, so that their loans can be deferred—all knowingly and with the hope that all of their loans will be forgiven, or that they will only have to pay 10% of what they owed for 10 years and all will be forgiven.

My job as a teacher in a small rural area working with disabled students certainly doesn’t allow for a large salary. However, I ALONE am responsible for my choices, and I ALONE am responsible for my debts!

Michelle of GA 12:44PM April 01, 2012