Forgiveness can be a virtue, but not in this case. If you’ve been following the news this year, you’re likely aware of the ongoing discussions about the increasing national debt, which has surpassed $33 trillion in the United States with no apparent solution in sight.
Offering students a way to escape their financial obligations isn’t actually helping them; it’s essentially rewarding them for making poor choices that they consciously made. We acknowledge that navigating college has become more challenging due to rising living costs and tuition fees, but it’s crucial to remember that our nation’s debt has been driven by a series of poor decisions at the highest levels of government, such as the one we’re discussing here.
- In response to the rejection of a recent bill, the government has decided to forgive $9 billion in student debt. It’s worth noting that the total student debt in the United States currently exceeds $1.75 trillion.
- Student debt now surpasses both housing and credit card debt, making it the most substantial form of debt in America, although housing debt still holds the top spot.
- The addition of more debt will necessitate increased printing of currency, which, in turn, can lead to inflation. This inflation, in its wake, can result in higher gas prices, more expensive groceries, and an overall increase in the cost of everyday goods and services.