There is a lot of discussion about how to handle student debt these days. When I came online this morning, I received the screenshot of the above tweet along with a question (abbreviated for clarity):
“I have $XX,XXX in student debt from a college that forced me to leave when I became pregnant. Despite the fact that they refused to allow me to attain my degree, they still charged me. I cannot complete my education until my debt is paid in full because my original college refuses to release my transcripts, and I cannot find a job that pays enough to eliminate the debt without that degree. What can I do?”
I don’t know. I volunteered to write this post in hopes of finding someone who does.
Debt is growing ever more common in our society. In the second quarter of 2019, consumer debt was listed at $13.86 trillion. While I refuse to get into the reasons behind this massive number, today I would like to ask you a question:
Can we fix this? And if we can, HOW?
I think we can all agree that the debt situation has become a problem. Student debt alone has reached the point where politicians are using it as a weapon to gain more votes.
The book Plutocrats even discusses how people in the finance industry have profited from this debt. In an earlier post, I even discussed the multi-million dollar paycheck that a single CEO in the credit card industry has attained.
Back in the age that the Old Testament of the Bible was written, Israelites were ordered to cancel all debts of their fellow man every seven years. The text excludes foreigners, but Deuteronomy 15:1-6 is a fascinating solution to the issue of debt at hand. Here is a direct quote from the start of the passage:
“At the end of every seven years you must cancel debts.” – Deuteronomy 13:17, NIV
For the record, I do not have debt. Therefore, I feel that I have no right to contribute to this discussion. That said, the massive amounts of debt that our populace has incurred warrants attention.
If you could propose a solution to the massive amount of debt our nation’s populace is facing, what would you propose and why? Please share your answers in the comments below.
It is hypocritical to run a website about buying and living on less while begging your readers to buy your crap so I refuse to do it. That said, I live on the money I receive from book sales, so if you can find it in your heart to pitch in I would be immensely grateful.
I’ve written a lot of books sharing my odd view of life in hopes of helping others. My most notorious book is titled The Shoestring Girl: How I Live on Practically Nothing and You Can Too, but The Minimalist Cleaning Method is pretty popular as well. You can find them at the following places:
Barnes and Noble