The notion of student debt forgiveness seems like a compassionate idea at a glance, but examining this idealistic notion of “student loan forgiveness” gives us plenty of reason to curb.
It is important to recognize that a person’s debt is not something that can simply be “cancelled” or “forgiven”, which are deceptive words carefully chosen to avoid public scrutiny. The debt burden does not simply disappear with the wave of a magic wand. Rather, it is transferred to someone else.
In this case, the burden of debt would be transferred from people who have agreed to take out a financial loan for the benefit of pursuing higher education. It is important to recognize that there has been a benefit received. The debt incurred is associated with both a benefit received (education) and an agreed low-interest financial commitment to be repaid over time (loan).
It is unconscionable and morally wrong to remove the burden of debt from those who agreed to assume it and place it on the shoulders of those who neither agreed to repay the debt nor received any benefit for incurring it. . This is a blatant notion that removes liability from willing debtors and transfers it to those of us who pay taxes. It is an obvious and fiscally irresponsible ploy to buy votes at the expense of the already overburdened taxpayer during an inflationary crisis and a time of global instability.
Letter to the Editor: The Difference Between “Human Life” and a “Human Being”