Thu. May 26th, 2022
Why-Student-Debt-Is-So-Hard-to-Forgive
Why-Student-Debt-Is-So-Hard-To-Forgive

Americans are currently burdened with about 1.57 trillion dollars of student debt, and that number is climbing rapidly. For many, a lifetime of debt has become the painful reality of life in the United States. Why? What happened to make this country, and this economic system, so addicted to debt?

Why Student Debt Is So Hard to Forgive – Second Thought
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Citations and Further Reading:

Graeber
https://warwick.ac.uk/fac/arts/english/currentstudents/undergraduate/modules/fulllist/special/statesofdamage/syllabus201516/graeber-debt_the_first_5000_years.pdf

Debt: the First 5000 Years
https://johnathanbi.com/book-notes-summaries/debt
https://longnow.org/ideas/02010/04/22/debt-the-first-five-thousand-years/

David Graeber and the rewriting of monetary history

Lazzarato
https://doi.org/10.1177/0038038514539207
http://irep.ntu.ac.uk/id/eprint/30123/1/7885_OShaughnessy.pdf
https://www.theoryculturesociety.org/blog/review-maurizio-lazzarato-governing-by-debt

Others

https://www.jacobinmag.com/2020/09/cant-pay-wont-pay-debt-abolition
https://www.academia.edu/23770832/Debt_Underemployment_and_Capitalism_The_Rise_of_Twenty_First_Century_Serfdom
https://doi.org/10.1177/016146812112300601 https://www.researchgate.net/publication/301270586_Debt_resistance_Beyond_or_within_capitalism
https://books.google.com/books?id=swxjDwAAQBAJ&printsec=frontcover
https://doi.org/10.1177/2631309X20921567
https://marshallsteinbaum.org/assets/goldrick-rab-and-steinbaum-2020-what-is-the-problem-with-student-debt-jpam-point-.pdf

Higher Ed. & Student Loans
https://www.newyorker.com/news/news-desk/what-biden-cant-do-on-student-debt-and-what-he-wont-do

https://educationdata.org/student-loan-debt-by-generation
https://educationdata.org/average-cost-of-college-by-year

https://time.com/4276222/free-college/
https://theintercept.com/2021/08/05/student-debt-cancellation-nancy-pelosi/
https://newrepublic.com/article/159233/coronavirus-pandemic-collapse-college-universities

Free college was once the norm all over America

https://thehill.com/opinion/education/560016-refuting-the-worst-excuses-against-student-debt-cancellation
https://jacobinmag.com/2020/11/cancel-student-loan-debt-biden

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By Reita

36 thoughts on “Why Student Debt Is So Hard to Forgive”
  1. Howdy, friends! If you enjoy my content, make sure to check out The Deprogram! We’ve been having a lot of fun with it and the response has been incredible so far. It’s available on all the major podcast platforms! If you really like the show, patrons of The Deprogram get access to every episode a week early, and access to the Patrons-only Discord server!

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    1. @Charles I recommend Blowback. They did a season about the Iraq war, and a season about the Cuban missile crisis; really in-depth, engaging and informative.

    2. It seems like you’re using a boutique definition for the word violence.
      I thought consensus was violence is only harming another human being physically.

      The type of violence you described means the black lives matter protest were all extremely violent

  2. The military budget is only 15% of the national budget. You couldn’t have missed the point more

  3. Education and Healthcare should be free for citizens. And at low costs for non citizens. Citizens have national rights to have access freely to these fundamental services of the state, while non citizens are still human beings and deserves a chance to integrate in whatever society they live in.
    We live in a world of wolves. Like Latins says once: “Homo homini lupus”.

  4. This analysis is a little bias because it uses a analogy that is still not widely recognized.

  5. Capitalism is growth system and socialism is fixed system.
    It depends on the person.
    I don’t like to be dependent on someone tax money or the government.

  6. Love the podcast have been listening to it in on my long drives. Hilarious, quality content keep up the good work!

  7. Yes capitalist system see fluctuations as it has it highs and lows but without facing adversities we can never face happiness.
    Happiness will loss all it meaning without adversities.
    Just as light has no meaning without dark.
    Socialism on the other hand is linear (average).
    Yes we never go as low as in capitalism but we will not go higher either.
    Capitalism go hand with our natural persona has survival oriented animal.
    I respect your points and I hope you will respect and consider my points too.
    Thank you for reading.

  8. why pay for studying, it’s weird?!
    sorry, but this is dumb. living without debt is the norm in many societies, just not anglo-saxons…

  9. I went to A Community College for one year.
    I had to borrow about $4,000
    That was 2013: I still have close to $10,000 to pay back
    I also cannot apply to a state college or university until I pay this money back

  10. I totally agree that private debt is a ‘cruel’ part of capitalism. The ‘good’ thing of capitalism is that enterprises can borrow money for investments. That really works. But private debt is nothing than problems. If it is completely banned the world would be a better place for a lot of people. With some new rules, no credit cards, no private loans, no long term financial commitments, free education, no under water morgage, etc…, it can be done. Needs working out a lot of details, but I am convinced that the world would be a better place.

  11. Well , I mean even with the debt I wish I would have went to school . You are eventually going to be better off right ?

    1. That depends on what you study. If you study STEM or something in the medical field, your chances are fairly high to be better off.

      On the other hand if you are going with the humanities, you probably won’t be.

  12. What about medical debt? I didn’t choose to fall and break my arm and insurance pay next to nothing for the x-rays and cast leaving me with a $6,000 bill that 6 years later is being garnished from my wages at 16.5%.

  13. Debt was created, so the peasants have to accept whatever working conditions out Masters gave us, so we don’t become homeless or stave to death.

  14. Couldn’t disagree more with the thesis here. Student loan debt is completely unlike military debt.

  15. I still remember back in the olden days, folks bought things and PAID THEIR WAY…these days kids want everything for free…we call this buyers remorse or poor life choices…

  16. Here in Ontario (Canada), we have OSAP which is our student loan program offered by the Province.
    Over the span of 9.5 years with a loan of $100K, the monthly payment is $1,018 with a tax credit of roughly $590 over each month.
    We also have help available, including the ability to extend our loan from 9.5 years to 14.5 years if the payment is too high.

  17. Taking concepts I understood individually and revealing their interconnection I was overlooking without even realizing it!

  18. dont you just love how the government falls over itself to save corporations that find themselves in the same situation as debt holders from their debts or bankruptcies, but individuals debt is sacred cannot be saved. I’m actually praying for a complete economic, and social collapse. the predation of the American people has to stop one way or another

  19. The reason college costs shot up is we pulled all the state and federal subsidies. I was in college when the subsidies started getting pulled and remember reading the articles into college newspaper written by the economics department discussing how the price of a year of college would be over 10 grand intuition. They were right of course because they were economics majors.

    The cost of college didn’t go up it’s always been insanely expensive we just stopped paying for it so we could cut the taxes of Rich schmucks and let baby boomers pretend they were going to get a share of those tax cuts

  20. Donald Trump’s Supreme Court would just strike down any attempt from Biden to forgive student loan debt. When us lefties wouldn’t hold our nose for Hillary Clinton we lost that battle. Biden is not going to spend political capital wasting his time on something that’s going absolutely nowhere. If you want student loan debt forgiveness you’re going to need to give the Democrats at least 52 votes in the Senate, maybe as many as 55 since when Manchin and Sinema are made irrelevant it might flush out in a couple other dinos.

    Remember we’re a two-party system because we’re winner take all voting. You need to fix that first.

  21. The problem with everything being free is that nobody can get paid. So teacher’s needs to be enslaved, this is socialism. Work for free and pay everything you have in tax. The government will decide what you should study and what you should work with. Socialism is oppression.

  22. So in short: end our reliance on capitalism and push for better politicians / laws. … Thats one hell of a hill to climb. I hope we reach the top one day

  23. This may be difficult for GenZ, but student debt forgiven at 65 is very much preferable to student debt forgiven upon death. One day every GenZ will be 65 too. From current trends many GenZ will still have student debts at 65.

  24. Graduated ’08 with 2 useless degrees. Still owe $23k for it but never had a job which would afford me paying more than the minimum payment so…. I staying enrolled in classes consistently at least half time in order to put the loan in forbearance perpetually hahaha! I’ll just be a forever student until I die 😂

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