Student Loan Forgiveness Is A Great Idea

This Monday, Elizabeth Warren Proposed That student loan debt be forgiven for those still paying off their college loans. Some people were confused and right out offended by the idea because where would we get the money for that kind of program? And what about the people who already paid their debt?

She basically had the entire plan laid out stating that this program would be funded by a 2% tax on the 50+ million dollar tax bracket. Well to many Americans who believe they have the potential to become a millionaire this sounds absurd.

Aren't we stealing their hard earned cash? Unfortunately, millions of Americans have had their hard earned cash stolen away from through wage theft. With the cost of living rising every year and staggering wages trailing behind, it's no wonder many Americans are living in a paycheck to paycheck hell.

What doesn't make sense is why so many people are willing to defend the rich when statistically speaking a majority of Americans will never see that much money in their lives. We found out years ago that trickle down economics is a myth and that the rich hoard their wealth more than anything so what's the problem?

I also don't understand why banks are so willing to give millions of 18 year olds with no personal financial history thousands of dollars in loans. It would be considered irresponsible to give out a loan for a house or car to a teenager with little to no credit history so why do we do it with college loans?

If we really thought this through as a nation we would realize that there is no reason for student debt accept to give predatory banks a lifetime clientele because let's face it, nobody is able to pay back their student debt in this day and age.

And as a finishing note, if your main concern is that you've already paid off your debt so why doesn't everybody else? First of all, that's selfish, and second of all you're very lucky you were able to pay it off but why should everyone else suffer? Could you imagine if people said "well I went through slavery so why don't you?" "I worked as a child so why do we need child labor laws?"

In the end it doesn't make sense to deny people a service (student debt forgiveness) that should have never been needed to begin with. Student loan debt should not have become a thing but here we are living in a country where the average student finishes school with over fifty thousand dollars in student debt and the highest interest rates possible. It is not okay and I hope Warren's plan can be put into action.