When I read these stories, I’m always confused as to what the author expects the reaction to be:
I have $235,000 of student debt. The first $120,000 came with a bachelor’s degree from my state school. Another $70,000 or so came with my master’s degree. The remainder is accrued interest.
This sounds completely insane. I work at a state school and can’t begin to imagine what one needs to do to rack up this sort of debt.
I understand paying more taxes to help the disadvantaged. But paying more taxes – and facing the probable closure of my state school that serves students who face real hardship – to benefit this kind of entitled, irresponsible folks? No, not really.
If this guy’s debt disappears, what’s the likelihood that he won’t rack up the same amount within a couple of years? He clearly learned nothing. Tomorrow he’ll decide he needs a house he can’t afford or that he’s investing in his future by traveling around the world.
Instead of debt forgiveness, the government – which owns student debt – should stop lending money for people to go into $70,000 master’s programs they can’t afford when there are great ones costing $8,000 and offering employment to more than offset that number.
I really, really detest this approach of “I spent ridiculous amounts on something non-essential and now everybody owes me.” $120,000 BAs are absolutely non-essential because you can get degrees for a lot less and pay for them as you go by working. Like my students do. Why do I and my responsible, non-entitled students have to pay for the luxuries of this entitled individual?
If his parents have $600 a month to pay to service the debt, he could have gone to my school (or a local one like it) and with a bit of effort graduated debt-free. It wouldn’t have the prestige of the one he did go to but prestige is something you need to be able to afford.