The What
This holiday season, student debtors should spend less (or ideally no) money on gifts in order to negatively affect the economy and get people to consider student debt relief and forgiveness.
The Why
Affect the economy so that government is forced to seriously consider creating student debt relief and forgiveness plans.
Wait, What?
Student loans restarted just before the holiday season, causing fear and anticipation among economists, government officials, and retailers regarding the loan repayments’ impact on business and the economy.
If the resumption of student loans doesn’t harm the economy, retailers will be content, and the government will continue denying student debt relief and elimination. But if this leads to economic damage—less spending by student debtors—more people will recognize the severe impact of student debt, potentially considering relief and/or forgiveness options.
Why Now?
During the loan pause, borrowers accessed previously unattainable goods and experiences, boosting the economy to a new standard for the entire nation to enjoy.
Now, with loan payments back, retailers and officials are measuring the financial impact. Let’s ensure our debt struggles are reflected in their assessments.
Student debt directly influences the economy. By showcasing its negative impact, we can ease resistance to loan forgiveness and relief.
Do What?
Obviously we’d all prefer using our money for productive purposes rather than feeding it into the bottomless pit of student debt. The economy already misses the money we pay on our loans but let’s ensure the pain and suffering our debt causes us is truly understood by others.
Do This
By consciously reducing the money we spend (what little we have left after loan payments) this holiday season, we can send a stronger message by amplifying the economy’s visible struggle without our money.
The Short
Make the government hear us in the only language it understands… money.
Keep your money. Retailers fear you won’t spend due to resumed student loan payments, as indicated by their offers of abnormally large discounts to entice purchases this year. Their profits rely on your holiday shopping. If sales decline, the economy suffers, prompting the government to seek solutions, like… creating potential student debt relief and forgiveness plans.
The Short for Visual Learners
Don’t spend your money > retailers suffer > economy suffers > government needs to fix it > government brainstorms solutions > obvious solution is reducing/eliminating student debt > student debt (ideally) forgiven
If You Must Buy
If you need to buy gifts, consider doing the following during this holiday season:
- Purchase fewer gifts
- Purchase gifts only from local businesses
- Purchase gifts from online outlets that support small businesses and artisans
- Purchase gifts from secondhand marketplaces
Some Sources
(Do a web searche for sources you prefer)
- Modern Retail: As student loan repayments restart, retailers brace for a muted holiday season
- Bloomberg: Retailers Are Nervous About Your Student Loans
- NY Times: Retailers Wary of Squeeze on Shoppers Ahead of Key Holiday Season
- Yahoo! Finance: Student loan repayments will probably make for a sad holiday for retailers: Morning Brief
*Concepts and theories listed above are simplified out of consideration for the reader’s time. Read the full 923-page thesis after it’s graded and returned by the professor at that college that went bankrupt. JK there is no thesis.