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Liberate 41 Million Americans From Student Loan Debt

It may seem shocking at first. But there are strong arguments to support student loan debt forgiveness.

Liberate 41 Million Americans From Student Loan Debt

President Obama’s proposal for tuition-free community college education, and the broader discussion which it has inspired, confirms our belief that it is time for a comprehensive solution to a $1.3 trillion problem: student debt in the United States.

We strongly support the concept of tuition-free public higher education, and are encouraged by renewed arguments in its favor. But we must also confront what has been done to the last several generations of students. They have been forced to take on debt that is crippling to them, to our economy and our society.

A student debt “jubilee” would reflect both the values upon which this nation was founded, and the economic principles which have sustained it through its greatest periods of growth and prosperity.

It is time for a truly transformative idea: Let’s Abolish All Student Loan Debt in America.

If you agree, click here to take action: Support the Student Debt Jubilee.

Jubilees Then and Now

The Liberty Bell represents our nation’s core values, combining personal freedom with community action. The words inscribed on the Bell – “Proclaim liberty throughout the land, and to all the inhabitants thereof” – are from the Book of Leviticus and refer to a Biblical “Year of Jubilee,” when all debts were periodically forgiven by the nation’s rulers. […]

Richard (RJ) Eskow, Mary Green Swig, Steven Swig , Huffington Post 

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About The Author

JoAnn Chateau

JoAnn Chateau likes progressive politics and loves the canines. She writes fiction about an alpha Bichon named Chester, and his friends–with a dash of humor and a dab of poli-sci. JoAnn worked professionally in the Psychology and Information Science fields. Retired now, she enjoys the creative life.

7 Comments

  1. Jack Curtis

    Fair disclosure: Parents paid for two years; I paid for two years as a night shift factory worker and government paid for an advanced degree after military service as a draftee.

    While I endorse the listed complaints heartily, two issues confront me:
    1. If the about-to-be-indentured-servants do not repay their loans, who will be stuck with the repayments? If the debt is simply repudiated, who will sustain that very large loss of wealth? It seems to me, that should be part of the discussion.
    2. To serve the increased numbers provided by the loans, the schools have both “dumbed down” content and raised tuition and fees. Dropouts have risen. That too seems to deserve inclusion. It is an ongoing effect, so far.
    3. Finally, someone mus pay for ‘free’ public education and unfortunately, our government is presently unable to pay for Social Security and healthcare, those are running on deficits. The economy is not in promising condition. So how will added education be financed so that students do not have to pay?

    This is not intended to disagree, only to bring up an inescapable issue that it seems to me, must be faced in pursuit of the stated goal …

    • JoAnn Chateau

      Thanks for commenting. Your questions are very good, and would need to be addressed before going forward with such a plan.

      I can’t speak specifics, but I would look to the wealthy elite, both corporate and persons, to cover the cost – through various kinds of taxes. They owe something to the society that has enabled them to acquire massive wealth.

      Even though they must have worked very hard, very diligently, over a long period of time… to rig the system in their favor.

      For decades, every tweaked law, bent rule, abolished regulation, destroyed union – has been initiated by, and has served, the ultra-rich. Large corporations now enjoy unbridled profits, while peoples’ jobs and wages are less attractive.

      There is plenty of money, my friend. $ trillions are just off shore.

  2. memadtwo

    I had friends paying off their student debt until they were in their 40’s…and that was when tuition was within the realm of possibility. Not only the students suffer now, but the parents taking second mortgages in their 50’s and 60’s and realizing they can never retire.

  3. Jeff Nguyen

    Tuitions will continue to rise as long as the spigot to federal dollars via grants and loans stays open. It’s a perverse cycle as federal loans and pell grants enable many lower and middle class students to be able to attend college despite unattainable tuition rates…

    Then, there’s always the private student loan industry to pick off the rest. The incentive for school in the highly competitive higher education market is to raise tuitions as higher tuitions are equated with higher quality, similar to Mercedes versus Hyundai.

    • JoAnn Chateau

      Of course it has spiraled out of hand, because the government guarantees repayment to the Big Money lenders. Which frees them to throw all good business sense out the window.

      ** They don’t care if there are any jobs in the student’s field of study.

      ** They don’t care if older students have previous work experience in their filed of study – to help them compete with younger graduates.

      ** They don’t care if the unemployment rate is high.

      ** They don’t care if the salaries for jobs in the student’s field of study are really low (I.e. social work).

      In theory, a lender wants the lendee to pay them back. But guaranteed student loan sharks don’t need to care about that – the government will pay them back.

      Who cares whether the student sinks or swims?

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