SURVIVING STUDENT LOANS
When it comes to student loans I can talk because I have a very good or should I say bad experience with it. While in school I literally had to take up loans to survive, and after school I know what I faced paying off those debts. Although my situation was quite peculiar, it was also similar. But then I ask if the government should give out loans to their students, why trap them in those loans knowing there are no good jobs that would easily pay off those loans. The issue isn’t even paying the loans, it is the interests accumulated with those loans that make them difficult to pay. It’s more like the government wants to steal from the future of its citizens before they even have the opportunity to live in that future. A future where the citizens struggle should be something a good government should plan against and not encourage.
The idea for student loans is to give citizens a shot at the kind of education they dream of. But what a lot of these loans really do is give them the education and take away the actual dream and at the end of the day there is nothing meaningful to show for the education they now have with loads of loans to pay and the interest accumulating every single day. Some never even get to pay it in their lifetime because they discover that the labour market is oversaturated and there is literally nothing they can do except hope and pray that luck shines on them while doing linear jobs in an inflated economy. When the loans start piling up how do the government expect her citizens to pay. What a lot of these governments do not realize is that the prosperity of its citizens helps the economy even more than the suffering but then again, a lot of them do not care about the economy but their own pockets.
This is why I do not think increasing tax is a good idea, before increasing the taxes, provide jobs, welcome new trades and development, build infrastructures the next generation can work on. Then you can boldly increase the taxes. Even if citizens have to pay 70% tax of all income, so long as the 30% can conveniently take care of them, they are good to go. So long they do not have to pay and then look like they would die the next day, then we can gladly accept a tax increase. Because what is important even more than paying off debts is having financial and economical security and until the government can really ensure that, it should not dare think of increasing taxes because it would only put the citizens in more debts and the government would not be able to recover from them. I remember the times when I wished I got a job quick and even after getting a job, I then wished that I could get a sustainable pay… The fact still remains that we only wish for the things we can not get and only pray for the things our government is supposed to do for us.
THIS IS MY RESPONSE TO HIVE LEARNER'S
PROMPT FOR WEEK 237 EPISODE 3
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Paying interest is making student loans so scary. I can't even imagine that even after getting a job a growing debt would be waiting for you.