When it comes to student debt, is the U.S. a “banker” or a “builder” of the future?

When it comes to student debt, is the U.S. a “banker” or a “builder” of the future?

June 29, 2022
By: Freedom to Prosper Team

With all the talk of student debt repayments, the U.S. government is thinking more like a “banker” than a builder of social good. Government policy has become too focused on student debt itself – dollars and cents – rather than on what should be its ultimate goal: educating and building our nation’s collective future.

We know how it happened – bit by bit.

Student debt was originally designed as a social experiment. The goal was to encourage veterans and other young Americans to seek higher education so that they could become the teachers, nurses, doctors, and other professionals the country needed to be successful.

But, somewhere along the line, the debt itself seemed to become the point. The government began to think of student loans as a source of funding and, in the process, buried 47 million Americans and their families under mountains of debt. The focus of conversation became the debt rather than the future. The government began thinking like a banker, not a builder.

If that doesn’t change, the United States Treasury will keep trying to extract money out of America’s past and present students, rather than thanking them for their hard work on behalf of everyone’s future.

And if you’re worried about inflation – well, this isn’t the place to worry. Macroeconomic studies show that full student debt cancellation won’t raise inflation, but will raise our GDP and boost the economy. That helps all of us.

Let’s reimburse our students for their hard work and get our society back on a better economic footing. Help us make 2022 the year of student debt cancellation. Add your name today. 

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