Forgive Student Loans. That is a brilliant idea. Even though I'm close to being done with mine, I think it's insane to saddle a young kid just out of college with what amounts to a mortgage. What hope does a kid right out of college - with such debt - stand of landing a job that will help him pay that college debt off, not to mention get a house, own a vehicle, raise a family and spend cash (which, last I checked, was vital to stimulating our economy). Even I can remember to the economics lesson I learned in college: threat #1 to our economy, personal savings!
This seems to me quite a bit different than the bankruptcy forgiveness that often happens. Sure, maybe student debt contributed to some of that, but so did over consumption. It's not like a kid over consumes when it comes to their college choice.
Why reward someone who racks up debt on six different credit cards and from buying a new home, a new vehicle, taking two vacations and so on under bankruptcy?
But allowing a kid with a college degree to start fresh, well that's a just reward?
I know there is a strong push out there arguing against students going on to college. I know the reasons, a degree doesn't equate to a job, students party at college and drop out or never take their studies seriously, the degree doesn't teach them anything any way, there just aren't enough jobs out their for the number of college graduates. All are legit points.
But if you're a parent, this is the key question: do you want your child to earn a college degree and have a chance at a descent job? Or do you want them to work construction, at Wal-mart, or a series of part time jobs?
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