Education—The Obama Student Loan Forgiveness Plan And Higher Education In America

Education is a topic, oddly, that can cause a lot of debate.  While you might think that most people feel an education is a good idea and the access to college or a higher education should be something made available to anyone, many people argue this fact when it comes to student loans.

Here at RWBpress, comments and opinions have been submitted about the new student loan laws and there are those who dislike the change in these laws.  Many people are unhappy with the changes in student loan laws because they do not like the fact that certain types of student loan forgiveness is available to students with federal student loans.

While I may be bias over higher education, being someone who paid their way through college with the help of student loans, I don’t believe it’s a bad idea to offer people the incentive to go to college by providing student loans and then after 10 or 20 years of repayment, giving certain college graduates forgiveness.

For instance, federal student loans are, typically, the only types of loans that have a forgiveness program.  While some private student loans may offer forgiveness options there is no widespread law.  So, if a college student takes out federal student loans, enters into a public service career and pays on their loans for ten years, why not forgive the remaining balance?

Also, someone in a similar situation, but a non-public service employee, could get the same deal after 20 years, under the new laws, so what’s the problem there?  Encouraging more individuals to go to college and get an education is something that shouldn’t be viewed as unsavory because the government may forgive student loan debt.

Some people have said they don’t want to cover the cost of paying for someone else’s education since the government will likely kick the costs back on the public for losses from student loan forgiveness, but there are a few things wrong with that line of thinking.

If the public had to carry some of the cost from student loan forgiveness programs, at best, it is ten years down the line meaning one college student’s forgiven loans, which again will have been paid on for a decade or more will be spread across ten years of taxpayers, (oh! and we have another college educated person walking around that may actually contribute something groundbreaking to society that generates millions for the economy or saves that much as well).

Also, has it been mentioned that more people may attend college if they find the funding?  While scholarships and grants should be a first priority, no high school student nowadays can save $40,000 or more for college, and sometimes their parents can’t or won’t either, so providing affordable student loans helps to put that person through school.

I am sure there are those who may disagree, but is there a good reason not to make higher education available to more citizens even if it is through federal student loans?