The Obama administration moved to block a bankruptcy court from
erasing federal student loan debt, saying such an allowance would
jeopardize the fiscal stability of the loan program.
U.S. Department of Education attorneys, intervening in the case of a
65-year-old man seeking to erase his student loans in bankruptcy, filed a
motion urging the court to stand firm with borrowers who claim they are
in a dire financial situation. Attorneys argued that Robert Murphy of
Massachusetts, unemployed and of retirement age, has plenty of chances
to go back to work or hit the jackpot.
No student debtors should get a break unless there is a "certainty of
hopelessness" with circumstances that have a "total incapacity" to
change, court documents said said.
"An individual's economic circumstances may change over time,"
attorneys said. "Improvements in the national economy may offer new
employment prospects, changes in family circumstances may reduce the
number of the debtor's dependents, a spouse may enter or reenter the
workforce, or the debtor may benefit from an inheritance or other
So it seems like taking out a student loan in USA is equivalent to signing your soul away to the Devil himself - there is no way out of the contract except for death or paying in full.
It doesn't help that a tertiary education is essentially worthless - but hey, at least you'll have your degree and you can show everyone your framed certificate proving that you're super smart. Right?
Let's look at this whole loan thing for a moment: The US department of Education claims that by allowing debts to be wiped you risk the collapse of the loan program. Now I don't have all the facts and figures in front of me, though I don't see how that is really the issue. What we should actually be questioning is the design of this system at the core - why is anyone at all in the position of firstly, having to pay for their education at all (an effective education essentially being the creation of opportunity for a person by empowering them to develop themselves in a particular skill that will benefit society as a whole (well that's what it's supposed to be used for)) thereby excluding those who are unable to pay or secure a loan. Secondly, the reality that once you have sold your soul to the devil you are very unlikely to find a job that will allow you to pay him back is completely backwards. What does that say about our priorities? Sure, you can have an education, but you'll be paying for it for the rest of your life because there's no way you're going to be able to get a job that will provide you with a comfortable life, free of debt? Something is seriously wrong there.
Young adults should be supported to fulfill their potential, not smushed into a gooey paste upon entering adulthood. There is nothing sustainable about the way we live - and this can be reflected into how the mind functions as well: The mind relies on the generation of positive and negative energies to fuel itself, but that energy has consequences on who you are and on the state of your body. It manifests as inner demons taking over who you could have been and as physical ills and illnesses debilitating your body. The backbone of our society - the system around which it functions - is well and truly broken. There is no way that it can sustain itself as well as create a life in which every single living being is taken care of - and when you look at it, that's all that really important: creating a life that is best for all and supports every living being to reach their utmost potential.