Column: Raising student loan costs burdens those already overburdened

By Darcie Dyer

I found it somewhat unsettling that while our President was addressing the nation on our imploding debt crisis Monday night, my peers were more concerned with tweeting about The Bachelorette.

“OMG now I don’t know if Constantine will get the overnight card, thanks for cutting off my show, Obama.”

And while it’s always fun being a tiny blue dot in a very red state, I won’t push my views on anyone.

But, as I sat eating my gourmet Ramen with delicious powdered chicken flavoring, I began considering the budget of your average college student.

In this thought, I realized there’s something that most college students, party aside, can agree on and should be aware of.

It may not be who should or shouldn’t win The Bachelorette, but instead, the finances of our fellow students with student loans.

As Speaker of the House John Boehner and many other politicians have made clear, they do not want to raise taxes.

Republican Congressman Eric Cantor has proposed raising the cost of student loans, requiring students to begin paying interest right away rather than waiting until after graduation.

Yes, he thinks this is a good idea for balancing our federal budget. Really?!

As if our generation isn’t already going to end up with the blunt of our economic downfall, why not just give us a few more setbacks as we venture out into the real world?

According to The New York Times April article, “Burden of College Loans on Graduates Grows,” the total amount of student loan debt in the United States is on track to reach $1 trillion this year.

Yes, this is a huge problem. But there’s a mind-blowing, extremely unlikely solution, but a potential solution nonetheless.

The 400 richest Americans’ combined worth, listed in Forbes Magazine, could easily pay off every penny of student loans in this country, and they would still have approximately $370 billion left over.

That means $925 million for each of those 400 people. Not so bad, people.

I understand the principal of working hard and deserving the money you earn.

But I do not understand whatever principal justifies greed.

And how anyone can say it would be wrong to tax people who, according to Forbes list, have a net worth of $925,000,000, while the average American household’s net worth is $96,000?

It must take a very twisted and convoluted way of manipulating one’s thought process to justify placing the debt burden on students who are already in deep enough with loans just to get an education.

But oh, those unfortunate 400 wealthiest people, how cold we ever ask them to part with their money, or at least pay a little more in taxes than your average paycheck-to-paycheck American?

Simply put, it ain’t right.

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