This morning, a question came to my mind about the legitimacy of accepting student loan forgiveness should the recently announced program actually happen. My answer is that forgiveness is legitimate. If you are OK with accepting the forgiveness, go for it.
The Bible is plain about the evil of not fulfilling vows. But that’s someone just deciding to not make their payments. This situation is different. Jesus taught about forgiveness in Luke 7, where a moneylender decided to forgive a couple of debtors. Jesus didn’t tell them they still had to pay the debt. He just said they had been forgiven and should be grateful.
And don’t mistake the student loan forgiveness program. It’s not forgiving debt but putting it off and spreading it out. Those who have been forgiven will still be helping to pay it off long into the future, along with the balance of the country’s population. Even those who don’t make enough money to pay taxes to help pay off the debt will be paying through increased inflation directly related to the program. Inflation is a stealth tax, but it’s still a tax.
The preceding paragraph shows some of the reasoning why I disagree with the proposed student loan forgiveness program. And even though proponents call it fair, it is not. It isn’t fair to so many people who struggled and paid off their debt as they said they would. Or to former students with private student loans, Or to many other people in many other situations.
Thanks for reading, and please pass this on to anyone you know who could use it. And may God bless your efforts to achieve financial freedom as it leads to spiritual freedom.
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