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Student Loan Forgiveness as Stimulus? Is This a Joke?

Well, for those who have stopped by in the last few days, I’m sorry for my inactivity. School is bearing down on me, midterms and whatnot, work is getting that much more stressful with people getting laid off, and frankly, I don’t think I can continue posting on here without losing my mind over the ridiculous things going on in this country. I don’t have the time or the patience right now.

So if I do continue to post every once in a while it will only be when there is something particularly egregious to point out, or to get off my chest. You know, not just the normal everyday stuff like throwing billions of American dollars to the Palestinians or federally-funded ACORN bussing activists to attack private citizens at their homes, or proposed bailouts for newspapers. We elected the most liberal government in American history. What did we except?

But when I read something like this, I need to say something. Over at Hot Air (not Daily Kos, or DU, or Andrew Sullivan, at HOT AIR) Allahpundit writes “Stimulus idea: How about massive forgiveness of student loans?”

Nothing on this yet from Congress or The One, but a Facebook group dedicated to the proposal has 138,000 members and counting. No typo. My sense of personal responsibility says no but my debt-crushed monthly budget cries proceed:

Ohhh, so there are 138,000 people on Facebook who don’t want to have to pay back their taxpayer-funded education. Well then hell, let’s do it! Great rational. And just ignore that whole pesky “sense of personal responsibility,” everyone else is doing it! Here’s an idea, if your debt-crushed montly budget is holding you back: Spend less money. Sell your IPhone or your laptop or whatever other luxury items you’ve purchased recently. Stop going out to dinner altogether. Stop going to see movies or buying books. Use a freakin’ library and make your own food. Suck it up, stop feeling sorry for yourself, and don’t even think about trying to pass your debt on to me. Why the hell should I pay for it?

Unfair to those who repaid their loans or didn’t have loans in the first place? Sure — but no more so than dumping oceans of TARP cash on the banks that created the crisis.

Wonderful reasoning there. The mortgage and bank bailouts were unfair to responsible folks, why not heap some more debt on their heads while we’re at it!

Stimulating! Exit question: Who’s onboard?

Screw you Allahpundit. Is this what the supposed Right has come to? Hey, we’re throwing tons of money at the problem at rewarding people who acted irresponsibly at the expense of those who didn’t, why not throw some more cash on the fire while we’re at it? Screw people who were too stupid to jump on the federal gravy train when they were in college, or who stupidly paid back their loans as promised by sacrificing in the short term. What a bunch of losers they are! And all those folks who worked their asses off while they were in school so that they wouldn’t have to take out loans? Screw ’em. And, ahem, people who are working full time jobs while going to school at night so that they can better themselves? Screw ’em!

What a moronic, insulting idea. Allahpundit and Hot Air should be ashamed to even be thinking this.

From the comments at original post:

well this is nice. You mean I could have had a free education instead of driving to work everyday to pay my bills wishing I had the time to take off and better myself?
Looks like the ’screw the one who tries’ rule applies here too. Funny its mostly responsible white people who it seems to always screw over, especially white males.

No offence folks, but SCREW this! I work 30+ hours a week and use my GI Bill benefits (which I EARNED thankyouverymuch) and Tuition Assistance from the National Guard so I can afford to educate myself at a State school, all in the name of being RESPONSIBLE and staying out of debt. If you took student loans, you MADE THE CHOICE to exchange an education for debt. Some folks do it responsibly, many do not.

So my husband and I paid cash for our education (well, his parents did but still he went to an Ivy), we waited for housing prices to calm down and didn’t get a crazy loan and now we are paying for everyone else???? F*** that, I’m moving….

Exit question: Who’s onboard?

Nobody with a modicum of decency and/or personal responsibility…

PAY your debts deadbeat(s)

And then where does it stop? Who is going to pay for it? If we are getting questions like this from fiscal “conservatives” then this country is really doomed.

UPDATE: PicoBusiness weighs in:

Many of the commentors at HotAir are against it, pointing out that they did the GI bill or saved up so they could afford college, or worked hard to pay off their loans, blah blah blah.

They are correct, in the sense that it is not fair. But in the current environment, fair may not be achievable. The best we may be able to do is ‘not insanely unfair’. And this seems to fit the bill.

“blah blah blah”? That’s what you think of people who bust their asses to pay off their loans instead of wanting everyone else to bail them out? I hope you have at least an idea of how insulting that is.

And you’re damn right it’s unfair. So why is the right going along with it? If something like this actually happened, god forbid, who the hell do you think would get credit for it? Obama and the Dems. All of a sudden you’d have millions of voters who suddenly had massive amounts of debt wiped off their slate, and they’d be eternally grateful to the Democrats, at the direct expense of everyone else in society. Why are we trying to dream up ways to help the liberals consolidate their power? And how, exactly, is this idea any less “insanely unfair” than, say, bailing out irresponsible home buyers at public expense?

UPDATE 2: Kayak2U as well, and provides a very apt comparision to a looter’s mentality:

As though one more looter makes the whole thieving enterprise fairer. As though umpteen wrongs makes an immoral practice suddenly ethical.

It’s little more than the gleam in the eye: The other thieves are getting away with it, the doors to the store are wide open, nobody is watching, and if I don’t hurry, all the good stuff will be gone.

And this:

Nowhere is it explained how X amount of dollars spent by Allahpundit is better than the same X amount of dollars spent by the person from whom Allahpundit is planning to steal it. Of the two, I know to whom I’d rather give my money.

Indeed. That about nails it, for me. The money used to forgive student loans is going to come out of the pocket of someone else (i.e. a taxpayer). Why is Allahpundit or anyone else who can’t afford to pay back their student loans more entitled to spend my money than I am? How does this make any sense at all?

Also – if college is prohibitively expensive, what good is it going to do to articifically prop up those prices? Wouldn’t the country be better served to let education costs drop as people became unable to afford higher education? Instead of forcing taxpayers to pay for the increasingly expensive educations of everyone else, thereby rendering their own education that much less valuable, why can’t we just admit that not everyone needs to go to college.

Forcing students through the liberal brainwashing process known as an undergraduate liberal arts education at the expense of taxpayers is going to do nothing for our country except drive it deeper into the socialistic gulch in which it already resides.

The people a program of this sort will primarily benefit are those who bought an overpriced education in a field that can’t support their loans, i.e. fine arts, or journalism, or anything ending in “Studies.” These folks get out of college and realize that the “education” they just borrowed isn’t actually going to allow them to get a job that will pay back that loan, without making serious lifestyle sacrifices, which Allahpundit seems to think is unreasonable.

I’m sorry – if you have any sort of cell phone beyond a basic model, if you’ve got a flat screen bigger than, say, 26 inches, if you’re driving a car that wasn’t at least 5 years old when you bought it, if you eat out, if you take vacations, if you go to the theater or if you spend your weekend evenings at bars or going to ball games or anything like that, I have no sympathy for you, and I’ll be damned if I’m going to hand you money out of my pocket.

I, and tons of other Americans, work their asses off to pay for their education, and we make tons of sacrifices to be able to do so without accuing debt that we can’t afford. Do the same.


03/25/2009 - Posted by | Uncategorized


  1. I’m with you, Johnny. This one makes my blood boil, too. There’s something to be said for earning something, for working towards a goal, for making it on your own. You appreciate it more. Given the Democratic plan, everything should just appear on a silver platter and be paid for by the secret money trees growing, I guess, in Michelle Obama’s new garden. If a business were to operate this way, it would be bankrupt within 3 months. How long before they bankrupt the country? This should concern everyone.

    Comment by WriterX | 03/25/2009 | Reply

  2. […] Curse you, Allahpundit!!! […]

    Pingback by Re: Cutting back on my posting « Retake Education | 03/25/2009 | Reply

  3. […] I have gotten some pushback on my relative excitement over the student loan forgiveness concept. […]

    Pingback by PicoBusiness » follow up on student loan forgiveness | 03/25/2009 | Reply

  4. I hope it is not a joke.

    Comment by dan | 03/26/2009 | Reply

  5. […] UPDATE 2: Oh, but if you did, for some reason, appreciate the more cathartic tone of my rant, feel free to check out its related, earlier little brother, here. […]

    Pingback by Profanity Ban Suspended « Retake Education | 04/03/2009 | Reply

  6. “if you have any sort of cell phone beyond a basic model, if you’ve got a flat screen bigger than, say, 26 inches…”

    Man, you’re standards are low. I went years without a TV and a cell phone, period, just to pay off debt. Hell, the only reason I have a TV now is because my dad is moving into a smaller house, and decided he no longer needs 3 TV’s, so he gave me one. My cell phone only exists because my wife got pregnant, and needed to get in contact with me in an emergency. It’s a 5 year old model, and I got a pre-paid plan that costs me less than $8 a month.

    I actually make pretty good money, but I’m aggressively paying off debt. Gone are my car loan, student loans, second mortgage. Going this year are my wife’s college loan and car loan, some of her past medical bills, (I wish she were as thrifty as me before we married) credit card debt stemming from a $6800 emergency home repair bill (boiler died, hot water heater was spewing CO into my house), and some personal debt.

    Comment by Aaron Traas | 04/06/2009 | Reply

  7. I get what everyone is saying about how this is not fair. But you know else is not fair. I have to pay taxes on money for others to have food stamps, low income or free housing, free childcare and more. Yes I traded my education for debt, but what other way is there. I go to school for 4+ years to get an education to do better in life, and than I have to start paying it back in 6 months. (this is not enough time to find a decent job) On top of that there are no or limited jobs out there based on where the economy stand. People act like everyone has the same opportunity. This is not true. Not everyone can afford to save or get a GI bill. If everyone had the same chances out tax dollars would not go to paying other people rent or food. You sit here and say how unfair it is, but what if you were in the situation where all you wanted to do is get a better education for a better life and then on top of paying rent, putting food on the table, and paying TAXES, you have a new 300 dollar bill that you had to pay. Sure if you want people to pay off his or her debt, cut the interest, lower the payments to some reasonable even if in the long run you pay more interest and give people a chance to live their life without having to lose their sanity to pay off student loans. Apparently you are not going to school to excel, you are going to school to do what you were doing before, pay the government. I think its about time we get something in return.

    Comment by Janeene | 05/04/2009 | Reply

  8. I went bankrupt trying, for 15 years, to pay off my student loans. In the end, they have been swept away by my physical disabilities, not by my financial ability to pay. I worked at a good job until then–$60000 a year, not really bad–but was still never was able to make my payments. Was it because of my inability to manage money, or because of the size of my debt? I don’t know. I just know there needs to be something new that DOESN’T take away personal responsibility.

    Comment by Eric | 06/02/2009 | Reply

  9. I worked days and went to school at night in order to get a degree. I had to take out some loans and am currently paying them back.

    If we forgive the deadbeats who were traveling, spring-breaking and taking majors that are “fun” then I want to be reimbursed as well.

    I want all of my out of pocket costs recouped along with substantial punitive damages. Also, I want a free car and a house and…

    Comment by Mike | 06/06/2009 | Reply

  10. I understand that there a lot of folks whom are responsible, and have paid, and slaved to get rid of their debt. There are also a ton of people looking for an easy way out. Me I work hard, don’t party, and don’t have luxuries. My student loan is highway robbery because of the unregulated private student loan industry. Sure I signed on for a loan, and sure I want to pay it back, but for Sallie Mae to go around and screw people who know no better is not cool. For them to charge me an eighteen percent interest rate for trying to better myself is completely uncalled for. If the government doesn’t take care of these crooks, then I can’t wait for them to sit in front of the Almighty in judgement. For you folks that think you are high and mighty for paying off your loan, thank your parents for teaching you the right way in life, but do not look down on me because I want some justice. That is where you are wrong.

    Comment by greg | 07/21/2009 | Reply

  11. Education and oppurtunity shouldn’t cost thousands and thousands of dollars in the first place.

    Comment by Bryan | 08/03/2009 | Reply

  12. I have a question. I live a great life. I am a 20-something that stays home during the day with my two children while my husband works 50 hour weeks to support us. we have nice things, pay our bills, and love life. Part of our bills include my student loan payments. I have been faithfully paying them, while gritting my teeth everythime i write the check, for two years now. My pain comes from the fact that i have no degree. I started school the fall after graduating high school. I tested out of most gen. ed. classes, earned the chancellor’s scholarship for amazing act scores, and infact my entire freshman year was paid for with grants and scholarships because i did my research and applied for everything under the sun! yah me! sadly i didnt do the same for my soph year or junior year. at the end of my junior year i became pregnant with my first child and decided to devote the first year of his life soley to him, not my studies, which at the time were to become a secondary ed teacher with a math minor. unfortunately, by the next fall when i attempted to pick up where i left off the degree requirements had changed and a high school teacher now had to have a degree in math, not secondary ed. what happened to the 140 credits i had worked so hard for?? they became elective credits, about 30 going towards my “new” degree, essentially i was starting fresh. try as i may i argued with everyone possible about grandfathering me in, why should i be punished for taking a year off to have a child?? someone told me if i had only taken a semester off then the story might have been different! who was to say the degree requirements were even going to change, no one could have possibly told me this when i first became pregnant!! i took my losses and went back to my studies now working towards my math degree!!! sadly it was quite an undertaking and i decided to instead focus on an accounting degree. i look back and feel maybe i made the wrong decision but i couldnt see myself finishing that intense of a degree when my heart wasnt set on it completely. then my family moved 2 hours away for a better job for my husband and i had to change colleges. during my first year at this second school, after applying for aide for the following year, i recieved a letter from student assistance foundation saying the department of education decided i was not eligible for any more money because i “have enough credits to qualify for a degree” (not for anything specific but number-wise i had met the average amount required) so in-turn i was considered at “life-time” student, meaning i just kept going to school changing my mind all over the place, acting like a real life van wilder. this, they proclaimed, was reason to cut me off of financial aide, until, of course, i obtained a bachelor’s degree and then began working on my master’s. I was outraged!! it was not me that “changed my mind!!!” it was the school for telling me i could not complete my final year for my degree in education!!! i have $27,000 in student loans that i am trying to pay back. I am on a 15 year re-payment plan chipping away at my loans. i fought, i argued, i cursed, at everyone who smashed my dreams, to no avail. i have accepted it was my fault for taking off a year to have my son, so i am paying back every penny, i believe it is wrong deep down in my heart. my question is: “Am i a dead-beat, a loser, do i expect someone to hand me things on a silver platter, just because i am searching for a way to erase my school debt??” i dont think so. I am a hard working mother of two, i have a wonderful hubby who breaks his back for almost nothing in return but, hey, atleast he has a job, praise the Lord! i dont mind that im not teaching, what i do mind is that I am paying a large sum of money for essentially nothing, except for the knowledge that life is hard and you make it what it is, i was raised on those ideals! im not asking anyone to pay my student loans, why are we throwing money (that we dont have) at a problem that should be reversed by teaching people how to make things better for themselves? ill admit i would like some sympathy for my sob story. i honestly do not feel i should be responsible for the loans. if i were allowed to finish my degree then i wouldnt even be on this website spilling my guts! i would pay them and thank the Lord for everyday i am not starving in an alley somewhere. Is there not someway for me to just complain enough that my loans are just magically erased?!?! someone tell me!!

    Comment by Amy | 01/10/2010 | Reply

  13. I wish I never got laid off. I wish someone would hire me. i wish I could pay off my student loans. I wish I didn’t cry myself to sleep. Wake up and try hard everyday only to face disappointment, repo man and bill collectors. Applied at JcPenney and had too much education, looking for teenager. My industry has suffered and everyone has their resume out. Competitive market with little jobs. Does loan foregiveness sound good right now? yep. Stop being judgemental. Hope you are never in my shoes.

    Comment by Architect | 01/24/2010 | Reply

  14. Some people should do the math before they sign those loan contracts. It is an investment decision, so a cost/benefit/risk assessment should be done first. Sadly, a few apparently do not do this. Party now – Pay later!

    Comment by Exiled Angel | 06/27/2012 | Reply

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