Is Student Loan Forgiveness Fair if Tradesmen Don't Get Relief?
The debate around student loan forgiveness is complex and multifaceted, particularly when considering the implications for trade professionals. If student loan forgiveness is implemented, and tradesmen do not receive an equal amount of relief, would it be fair? This article delves into various perspectives on this contentious issue.
Arguments Against Equal Relief for Tradesmen
Some argue that if only college-educated individuals receive student loan forgiveness, it would be unjust to put tradesmen at a disadvantage. The argument posits that college-educated individuals should not be permitted to benefit without tradesmen gaining similar relief. As one commenter observed:
If student loan forgiveness goes through and tradesmen do not get an equal amount of money/debt relief, that is not fair. Tradesmen should not be made to shoulder the burden.
Practical Implications for Tradesmen
Plenty of tradesmen argue that they should be compensated equally. They point out that skills and trades are just as valuable as a college degree. For instance, a tradesman can repair their own car, cut their own hair, and build their own house. They should not be penalized for not benefiting from student loan forgiveness:
Tradesmen can do many things for themselves. They can repair their own cars, cut their own hair, and build their own houses during a crisis. Hence, it's not fair to put the burden on them.
Arguments in Favor of Differential Reliefs
Others argue that since student loans often carry high interest rates, with the government borrowing at low rates and lending at significantly higher ones, the burden of such loans is unreasonable. They propose that the cost of basic vocational training is far lower than the expense of a college education and thus, should not be penalized similarly. Moreover, they emphasize that student loans often function like a Ponzi scheme:
No one should mortgage their future and choke in debt to get an education. Also, student loans are like a Ponzi scheme: the government borrows at 0 and charges 5, 6, or even 7 and 8 on the interest for those student loans. The cost is a very high price to pay for an education.
Economic Perspective and Budget Considerations
However, budgetary concerns play a significant role in the argument against equal relief. Many contend that modest student loan forgiveness proposals are exceedingly expensive and divert funds from other essential programs. Data underscores the vast cost of loan forgiveness proposals:
The sums involved in loan-forgiveness proposals under discussion would exceed cumulative spending on many of the nation’s major antipoverty programs over the last several decades.
Political and Ethical Implications
Political figures like Joe Biden are criticized for inequities in their proposed policies. Some argue that singling out a portion of the population to renege on their legal obligations is inherently unfair. Another critique emerges regarding other sectors, like small businesses and commercial enterprises, which have access to loan opportunities that students do not:
It's discriminatory to create a program where a small portion of the population can renege on their obligations. Small businesses also have extensive loan opportunities, including those from the Small Business Administration, and favorable lending terms that are not available to students.
Conclusion
The question of fairness in student loan forgiveness is complex, encompassing economic, ethical, and political dimensions. While some advocate for equal relief for all, others emphasize the difference in the nature and cost of education and training for college students versus tradesmen. Ultimately, the debate reflects broader discussions about equity and the responsibilities of government in distributing public resources.
Will you agree with those who believe in equal relief or support differential treatments based on the nature of training and education? Share your views and thoughts in the comments below.