« Student loan debt » isn’t the bad guy here—it’s merely a tool of the universities.
President Joe Biden just announced his decision to forgive student loans to the tune of $300 billion—which is, to put that number in perspective, more than the GDP of either Finland or Portugal. So far, the national conversation has focused on whether, first, the American taxpayer should be responsible for clearing privately held debts, and, second, whether the move is mostly a partisan Democratic gambit to garner votes and support leading up November’s midterm elections. However, it is colleges and universities that should be under scrutiny, because they are the reason so many graduates are deep in debt in the first place.
What’s more, colleges and universities have all but guaranteed themselves a ceaseless flow of « consumers, » having successfully convinced the public that, in the 21st century, one simply cannot survive, let alone thrive without a diploma. They selectively prop up their most successful alumni, rather than show the full picture. And that full picture reveals that many, if not most, graduates earn no more than an American with a trade degree working a blue-collar job.
Over the past few years, in particular, millions of dollars have been steered toward DEI administrative departments, whose singular task seems to be convincing students that everyone and everything is bigoted.
