Economics

The Benefits of a Student Loan Debt Jubilee

Sound the trumpets
Written by JoAnn Chateau
Then shall you cause
the trumpet of the jubilee to sound…
~ Leviticus 25:9

The U.S. federal and private student loan debt is currently estimated at over $1.38 trillion. The figure does not include interest owed!

Now, in the Old Testament, there was a practice called “Jubilee.” Every fifty years, debt was forgiven.

Jubilee deals largely with land, property, and property rights. According to Leviticus, slaves and prisoners would be freed, debts would be forgiven, and the mercies of God would be particularly manifest.

~ Wikipedia

Without going into the obvious analogy with slavery, etc., what would happen if today’s $1.38 trillion American student loan debt was forgiven? Would the “mercies of God… particularly manifest?”

The answer is “yes.” New research shows that many benefits would result from a student loan debt Jubilee. That is, specifically American student loan debt. (In case you haven’t already heard… no other nation in the world has such a problem.)

As per usual, don’t blindly take my word for it. Ideally, you should consult the knowledge of academic experts (folks who study a particular subject for their entire professional career).

Awesome! There happens to be an academic expert on student loan debt in the video below!


Dr. Jane Sanders sits down with economist Dr. Stephanie Kelton to talk about the macroeconomic effects of student loan debt cancellation in the United States.

~ The Sanders Institute


May the trumpet sound!

About the author

JoAnn Chateau

JoAnn Chateau likes progressive politics and loves the canines. She sometimes writes fiction about Chester (the Alpha Bichon) and his friends -- with a dash of humor and dab of Poli-Sci. JoAnn's views and insights are tinted by her past profession in Counseling, Christian theological studies, and Library and Information Science training. Retired now, JoAnn enjoys the creative life.

8 Comments

  • This would be literally life changing for me and millions of others…. but I don’t think it will happen :( I think the higher education bubble is going to burst, and it is going to cause a depression :'(

    • Making students loans once again dischargeable through bankruptcy may be more likely, or happen sooner, than a full-fledged student loan jubilee. However, before anything can change, we need to get the corporate b*st*rds and their big money out of politics – who, btw, will somehow make a mint if the education bubble bursts and everyone else has a depression.

      Be sure to vote Progressive in the 2018 Election. For instance, vote for candidates who refuse corporate campaign donations or candidates who have signed an anti-corruption contract. https://joannchateau.com/2018-progressive-candidates-ballot-initiatives-nationwide/

      Until sanity is restored, hang in there, Mike. The American people are understanding that political corruption is a problem, at least, when it comes to our current President. (See the cover of the April NY magazine cover.) When they understand the problem is systemic, they will ALL join the political revolution.

  • Makes a lot of sense, especially when you acknowledge that all the money private banks the private banks invented the money they loaned these students out of thin air.

  • Jesus instructs disciples twice how to pray in NT. In one version trespasses and in the other debts is used. Was suggested trespasses meant sins against God and each other but debts version refers to the Jubilee.

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