I have thought about this to an extent and cancelling a student loan looks an amazing easy thing or good thing to do, until I had a second thought about the bills been taxed from my money. Take a closer look at it and picture a fresh graduate with a certificate in one and and a pile loads of debt he will have to pay for years. The loan was used for all his school fees, books, accommodation throughout, but each day, the interest rate to be paid on the loan keeps adding up. Each months that comes by, the money he could have used to sort out himself, buy more food stuff, start a business, help his family, pay for other things keeps getting used to be the paid for debt that keeps generating more interest and doesn't seem to have an expiring date.
Then, there is another phase to the question that was asked here, and that is if the debt disappears, but everyone else has to take part in the payment of the debt through tax.
And If I am being honest here, that sounds to rediculous and strange. I can understand that there's going to be room for those students who took the loan to feel relieved, but I am more concerned about those who are pulled into the equation because then never took the loan.
Maybe such person struggled through school by staying in his parents house or managing with his friend to save up. Maybe he took multiple Jobs or saw himself through school. Maybe he managed to even pay his school fees and now, that person is being asked to contribute more for something he even ran away from just because someone else took the loan and has to pay back.
I remember buying an expensive drawing instrument in school then and I had to keep the receipt inside one of my handout just to show my parents where their money went. Looking at that receipt taught me something about money, and that is once it leaves someone's hand, we still remember it.
That aside, collecting a school loan and paying after school with interest is something that can follow anyone for a long time even after school days. It can slow down someone's choices that has to do with real life matters. So, I am not for cancellation of school loans so that innocent people can cover for and help the irresponsible borrowers, just the same way I will not automatically call hither taxes unfair.
Personally, I believe we should ask ourselves sugar education should be. Should I be a private investment carried by the person going to school, or something that we will be taxed for when the person going to school cannot shoulder the cost again?
We all can't have the same answers. Because it is one thing to collect school loan, and it's entirely different things for you and I to be taxed for something we are not in support of. That can be uncomfortable in a way that if someone is relieved of something, it can become a responsibility on others who cannot equally afford it.
Thank you for reading.
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