Can You Show Me A Timestamp?

Student loan forgiveness is back on Facebook!

"Not paying back a loan made with someone else's money isn't forgiveness, it's THEFT!"

The implication that the person who's in default is the thief.

However, that's not true.

Making a loan with someone else's money is theft.

The borrower didn't steal from you, the loaner did!

So, what I want to see, since this matters so much to you:  Where are your objections to federally guaranteed student loans.  Make sure it has a date stamp that precedes the "student loan crisis."

Because if you were fine with them as long as they were being paid back, you're fine with the stealing of your money.

If you were fine with the loans and them being paid back, then you also have to get OK with the idea that there will be defaults.  There will be circumstances where there will be massive defaults (happens with housing too).  There will be defaults massive enough that the best financial decision for the lender is to erase the loan balances. 

"Wait!  No!  That's different!"

No.  It really isn't.  What's different is a degree isn't repossessed or foreclosed.

You've been led astray and you're blaming the wrong people for the problem.

It's the universities still stuck in the paradigm where having a four year degree, ANY four year degree, led to a decent, white-collar, job.

If the content of your education didn't matter then students were free to pursue anything that interested them and universities were incentivized to provide degrees in those subjects.

I remember when a degree in black lesbian studies led to employment in an office.

A job, by the way, that used to require a high school education.

But that's a topic for a different post.