An Impartial Take on The Supreme Court’s Ruling on Student Debt Forgiveness
The Good: Independence
The ruling made by the Supreme Court has a powerful but often overlooked argument for being the right choice in the sense that it doesn’t make much sense for the American government to spend $400 billion to bail out its citizens who have carved their paths in life and are down financially for it.
The American people as a whole should not be dependent on the government to rescue them after choosing a certain career path, title, or level of education to attain. Universities are a lottery, which means some people make it big while others don’t, but that doesn’t mean the government should suffer for your loss, whether or not you share that loss with tens of millions of others.
As for the graphic in the title, the statistics themselves are factual, but once again we have to ask ourselves, why are they true? Why are college kids jumping into a contract that binds them for a lifetime without knowing anything about it whatsoever?
They need to understand that one completely tangible option tied to signing their contracts with loan offices is a lifetime of debt, a lifetime of looking over your shoulder, a lifetime of living paycheck to paycheck, handicapped by the student loans they so frivolously agree to.
The Bad: A Hobbled America
At first glance, the ruling looks like the Supreme Court struck down valuable aid to roughly forty-three million Americans across the nation, whom all chose to go down the path of being educated and paid a price for it, and, well, that’s just what it could be (Hahn).
The Americans who are now suffering, drowning in student debt, are those who decided to go to college, as not going to college in this economy is practically a handicap in itself.
Those who aspired to gain knowledge by taking out those initial loans to study for an additional four years at a college or university are now being hindered by loans and are unable to fully capitalize on their degrees after being taken advantage of by loan sharks as naïve kids.
This is why the average person who carries the burden of student loans is in debt roughly equivalent to the value of a used 2020 BMW 3 series.
Outcomes
If you were Biden, you should probably be coming up with some campaigns on student loan awareness to prevent the next working generation from suffering from the same difficulties many of the past generations have.
Along with this, some pushes for restrictions on banks and loan sharks taking advantage of college kids should be made a high priority in the scope of the Democratic party after this significant, very public loss in the most powerful court in the nation to minimize the impact on PR.
The Republican party’s stance on independence should also be in line with the thoughts of pushing a campaign about letting students know what their choices can cause, in which they could also attack loan sharks just as a sort of pleasantry.
All in all, this should, if each party goes about the coming few decisions regarding this topic correctly, be a good influence on future college students across the nation.
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Works Cited
“Find Your Certified Preowned BMW Luxury Vehicles.” BMW USA, https://www.bmwusa.com/certified-preowned-search/#/detail/3MW5R1J05L8B17175. Accessed 3 July 2023.
Hahn, Alicia. “2023 Student Loan Debt Statistics: Average Student Loan Debt — Forbes Advisor.” Forbes, 30 June 2023, https://www.forbes.com/advisor/student-loans/average-student-loan-debt-statistics/. Accessed 2 July 2023.
Hughes, Jared. “Student Loan Forgiveness Officially Blocked: What’s Next?” Credible, 30 June 2023, https://www.credible.com/blog/refinance-student-loans/student-loan-forgiveness-blocked/. Accessed 3 July 2023.
Savage, Charlie. “Student Loan Forgiveness Opinions and Dissent: Key Highlights.” The New York Times, 30 June 2023, https://www.nytimes.com/2023/06/30/us/politics/student-loan-forgiveness-opinions-dissent-scotus-highlights.html. Accessed 3 July 2023.
“See How Average Student Loan Debt Has Changed.” USNews.com, 13 September 2022, https://www.usnews.com/education/best-colleges/paying-for-college/articles/see-how-student-loan-borrowing-has-changed. Accessed 3 July 2023.
Turkus, Brandon. “2019 BMW 3-Series First Drive: Doing Everything, To Its Detriment.” Motor1.com, 11 December 2018, https://www.motor1.com/reviews/297249/2019-bmw-3-series-first-drive/. Accessed 3 July 2023.
