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Loan Forgiveness; why you so mad?

Won't don't you find a little joy in someone else's good fortune?

By David Louis StanleyPublished 2 years ago 4 min read
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Photo Credit - Jeffrey Hummel, https://www.turningart.com/artist/jeffrey-hummel

I was going to stay out of this “Student Loan Debt Cancellation” kerfuffle because it is so ludicrous.

  • When you go to the casino, do you root for the house to win?
  • When people need a medical test or procedure, do you root for the insurance company to turn them down?
  • When you got food poisoning at Bob and Ethel’s picnic, did you call around to see if other people were sick, too, and when you found they weren’t, did you got ticked off at them?
  • Are you the person who says, “My Mom/Dad spanked the hell outta me, and I turned out fine” so you do the same to your kids?

Think on this for a moment.

  • We bailed out Chrysler and GM to the tune of 80 billion dollars.
  • We bailed out the airlines to the tune of 25 billion dollars.
  • We bailed out banks to the tune of something between 750 billion and 1.2 TRILLION dollars. Massive, faceless, corporate entities.

So consider this: Who is the beneficiary of the loan forgiveness? In the main, working-class people. Not folks making six figures, for sure.

And consider this even further: How much does each individual benefit?

Between 10 and 20 thousand dollars.

In other words, about 20% of the price of a new car in 2022 ($47,000 according to KBB).

Why are you so ticked?

“It’s unfair. I paid off mine.” – Good for you, I shall send you a ribbon and a participation trophy. Let’s talk fair.

  • Black Americans, during the Jim Crow era, paid taxes for pools & schools & libraries and were forbidden to use them.
  • Native Americans had 300 million acres of their land stolen from them during the Homestead Act and have yet to be paid reparations.
  • Millions of dollars in PPP loans for wealthy congresspeople and their equally wealthy friends were forgiven.

My M.A. cost me, principal and interest, $40K.

And guess what? I am damn happy that other people don’t have to waste their money on that crap; that they can buy better food, drop more money on charitable organizations that make the world a better place, put more of their money into circulation in the business world so all of us can see the benefits of loan forgiveness. That's the real trickle-down economics (or more accurately, trickle-up economics), not the nonsense that the GOP has been trying to sell since Reagan.

Not every program benefits everyone.

My kid is out of school, but I am happy to kick in my share so that public schools can continue.

I don’t need a free clinic for my healthcare needs, but I don’t bitch that a portion of my taxes go to the County Health Dept. so that people who need walk-in care in the North End of Flint can get the care they need.

I haven’t been in a library since the pandemic and I voted for the library millage.

I’ve never needed to call 9-1-1 but I voted to upgrade their facilities because, one day, I probably will need them.

Would I like to have that extra $40K in my bank account right now? Of course I would, but I’m not going to have a fricking hissy whiny fit because somebody else won’t need to scrimp on formula for their kids so they can keep their loan current so their credit score won’t nosedive to 550 and they’ll be unable to move into a decent apartment.

Consider this: Your across-the-street neighbor wins $10,000 with a lottery scratcher. Are you going to go egg their car, pour sugar into their gas tank? Of course not, although you might stick them with the bar tab next week. Then why are you having a tantrum about their release from a government-imposed yoke and harness about their neck?

I am not a wealthy man. I am a semi-retired teacher. My wife is a fully retired nurse. We do not have a trust fund. We own no rental properties. This is about simple human decency. Your anger that someone else will not have to ‘suffer as you suffered’ speaks loudly to your angry and vindictive zero-sum game worldview.

Quit doing that.

Just like the government has waived $10,000 in loan payback, why don’t you release yourself from an infinitely more costly burden? Stop getting angry over some else's good fortune.

If you can do nothing else, consider this:

When your neighbor carries $10,000 less in debt next year,

a) How will you know?

b) What possible difference will it make to the quality of your life?

Try this – instead of throwing a major league tantrum over someone else’s good fortune, let yourself feel good that another human’s life got just a tiny bit easier.

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About the Creator

David Louis Stanley

Educator.Poet.Author.Writer.Voice-for-Hire.

Husband.Father.Friend.

Thinker of thoughts who gets stuff done.

Melanoma Awareness Advocate.

Three books in print.

Never miss a chance to do good.

I write sonnets.

I’m bringing sonnets back.™

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