Debt Hurts America

Conventional thinking says that college debt promotes productivity, because grads will be in a hurry to pay off their loans.

Therefor, if we’re going to change minds, I believe it’s very important to dispute that perspective.

Some initial thoughts:

College debt reduces innovation and entrepreneurship. Grads seek job security, instead of having a willingness to take risks.

College debt shrinks opportunity. Debt forces young people into careers NOT based on passion, NOT based on what will make America greater, NOT based on what will heal the Earth. Instead, college grads will base career decisions on what will earn the highest dollar. That’s not the path to a dynamic economy.

America’s young people shouldn’t start life with a crushing debt burden. New careers should start with wide-open opportunities.

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Great post! And, is there such thing as “job security” these days? Even within the public sector…

I wish more organizations would offer to repay college loans for their employees; also, can we talk about how predatory it is that the GOVERNMENT is in on the scheme to charge interest (and outrageous interest at that) on loan balances? I don’t have a problem paying back the principle balance of what I borrowed–what I have a problem with is having to pay back twice, thrice, or even more than what I initially borrowed in accrued interest alone. Why does the Biden administration refuse to address the elephant in the room that is these scummy interest rates?