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Get Out of Debt Free Card – only students may apply

October 27, 2011

What can I say?  This latest stint by university students has my blood boiling.

These people are protesting paying their student loans!  They claim that the cost of education is too high and the burden of the debt is crushing them.

Who forced them to take out these loans in the first place?  It didn’t used to be so incredibly commonplace for people to have bachelor’s degrees.  Now, a bachelor’s degree won’t give you a leg up on getting a job but you will need it before you can even get an interview.

If they couldn’t afford school they shouldn’t have attended.  Harsh? Perhaps.

If the costs of attending university made higher education so unattainable for so much of the population there should be protests and changes demanded in the entire system BEFORE promising the bank you will pay them back for said lump sum of money you requested of them.

The bank charges high interest?  That is a shame, but it is also business.  Protest that the banks should lower the interest rates on student loans.  They didn’t chase after you and twist your arm to take out a loan with them.

Many students take the difficult and honorable route of working (many times multiple jobs) and paying their way through university without loans.  Attend in-state at the local state university and not the big shot expensive one.  While doing that if you still feel like you are getting ripped-off by the exclusivity of the more expensive universities protest and petition to your heart’s content about making changes in the system.

However, don’t sign a contract with the bank promising them you will pay them back and agreeing to their terms and then turn around and beg to be absolved of all responsibility for it.  If the U.S. Government gives in to these ridiculous demands, forgiving the student debt of thousands of students, how will that teach them to become responsible adults in our society?  Who would be footing the bill to the banks who would be losing their money? The hard working taxpayers of course.

I don’t understand why they feel so deserving of a pardoning of debts.

What if I purchase a house, I get the majority of the funding in the form of a mortgage from the bank, signing a contract with monthly payments for the next 35 or so years.  These payments are annoying and take a huge chunk out of my salary.  Why can’t I protest to be forgiven the rest of this loan payment?  If I tried that shtick they would take my house right out from under me.  These students don’t risk losing their diplomas or getting all that they learned erased from their memories.

Come on guys.  Time to grow up.


What do you think about these protests?  Do you think the government will give in to their demands?  Do you think this is as ridiculous as I do?  Is there a side to this story that I am missing?

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