Christian Student Loans

If student loans are forgiven, where is my refund?

Get closer to God and free yourself from your debts!

President Biden has told members of the Congressional Hispanic Caucus that he is considering forgiving student loans entirely, CBS News reported on April 26, 2022.

Previously, the president indicated that he would support the cancellation of up to $10,000 in student loans for each borrower.

Former President Ronald Reagan once joked that there are only two inevitable things in life: death and taxes.

But for most Americans, debt also appears unavoidable and necessary.

American journalist Earl Wilson said, “It would be a much better world if more married couples were as deeply in love as they were in debt.”

This is especially true when it comes to student loan debt.

Forty-three million Americans currently owe $1.7 trillion in student loans.

The average American who borrowed money for school has $40,904 in student loan debt to pay off. For them, their ever-increasing mountain of debt can seem almost impossible to climb.

But although difficult, I know it is possible to repay student loans.

Because that’s exactly what I did.

Just like most “normal” American students, I took out thousands of dollars in student loans to pay for my education.

After I graduated, the reality of these loans hit me in a new way. I realized that I had borrowed thousands of dollars of real money that I had to pay back. But like most recent college graduates, I was broke.

And yet, I decided that I didn’t want to spend decades of my life making payments to my loan provider. I wanted to get out of debt as quickly as possible.

So with every paycheck I got from my first job after college, I systematically invested every extra penny I earned to pay off my debt. I paid way more than what was asked of me each month, which during the COVID-19 pandemic was precisely $0.

On November 2, 2021, I finally made my final student loan payment and I am debt free. It took me several years and cost me a pretty penny: $23,125 plus interest to be exact.

I did what had to be done. I paid back what I owed.

But as the old saying goes, “No good deed goes unpunished”.

There are myriad reasons why any student loan forgiveness plan, regardless of amount, is bad.

For starters, canceling student loans would be like a doctor prescribing Tylenol to treat a cancer patient.

Canceling student loans only treats the symptoms of the crisis without addressing the cause.

Of the $1.7 trillion in student loans, more than $1.6 trillion are federal loans. This money comes from a federal program, authorized by the US Congress and administered by the US Department of Education (DOE).

If student loans are such a serious problem that they warrant complete cancellation, why doesn’t the federal government first stop the bleeding and stop issuing more government-backed loans? federal government ?

Otherwise, in a few years, as the DOE continues to make more loans, we’ll be back where we started.

Moreover, why is the federal government targeting student debt to cancel? How about credit card debt? What about mortgage debt? What about car loans?

If we are going to cancel student loans, why not cancel all other types of debt?

But perhaps the most poignant argument against canceling student loans is that it would constitute an immoral and unjust redistribution of wealth from the poor and less privileged to the richer and more fortunate.

According to the left-leaning Brookings Institution, “nearly a third of student debt is owed by the richest 20% of households and only 8% by the poorest 20%.

So why should the federal government force the unlicensed trucker, plumber, or electrician to pay off, through its taxes, the debt of the licensed lawyer, engineer, or scientist?

Al Mohler, president of Southern Baptist Theological Seminary, recently spoke about the moral hazard that canceling a student loan would entail.

“What about all those people, over the past decades, who have faithfully repaid their debt? asked Mohler.

“You have the temptation of a big government to take popular action in the name of justice, and yet the closer you look at it, you realize, ‘That’s not justice at all. It’s not justice. is just theft disguised as an act of justice.

As a Christian, I believe in helping the poor, including those struggling with student debt.

For Scripture tells us, “The rich rules over the poor, and the borrower is slave to the lender” (Proverbs 22:7).

But the Bible also teaches: “The wicked borrow but do not return, but the righteous are generous and give” (Psalm 37:21).

Canceling student loans would turn government into a reverse Robin Hood, taking from the poor and giving to the rich, hurting the very people our elected leaders claim to be trying to help.

It would punish those who were responsible and paid back the money they borrowed.

Which leads me to wonder: if student loans are forgiven, where is my refund?

Zachary Mettler is editor and communications liaison for The Daily Citizen at Focus on the Family. In his role, he writes about current political issues, US history, political philosophy, and culture. Mettler has been featured in The Daily Signal, Life News, The Colorado Independent and The Millennial Review. In his spare time he enjoys reading, running, hiking, backpacking and walking his dog. Find his writings at: