On March 8, U.S. Rep. Hansen Clarke proposed the Student Loan Forgiveness Act of 2012 (H.R. 4170). In making a case for the bill, he observed that the unemployment rate for college graduates was 9.1 percent in 2011, and that Americans' outstanding student loan debt obligations now exceed $1 trillion.
The bill aims "to increase purchasing power, strengthen economic recovery, and restore fairness in financing higher education in the United States through student loan forgiveness, caps on interest rates on federal student loans, and refinancing opportunities for private borrowers, and for other purposes." Clarke argues that higher education should be seen as a public good, but the resulting student loan debt borne by many graduates negatively affects the nation's economy.
The moral force behind Clarke's bill relates to the health of the economy and the ability for college graduates to flourish. But how does student loan forgiveness relate to the kind of forgiveness advocated by Jesus in the Gospels?
Jesus talks about debt forgiveness in both prayer and parable. In Matthew, Jesus teaches his disciples to pray to God to "forgive us our debts, as we also have forgiven our debtors" (6:12). Later he describes the dire consequences of refusing to forgive debts in the Parable of the Unforgiving Servant, where a servant who was forgiven an enormous debt by a king is thrown in jail when he refuses to forgive a smaller debt owed to him (18:23-35). Jesus finishes with the frightening message that God will deal similarly with human beings who refuse to forgive one another "from your heart."
However, it is clear in both cases that debt forgiveness functions as a metaphor for sin forgiveness and is not to be taken literally. In case listeners don't make the connection between debts and sins, Matthew makes the metaphor clear with this postscript to the Lord's Prayer: "For if you forgive others their trespasses, your heavenly Father will also forgive you; but if you do not forgive others, neither will your Father forgive your trespasses" (6:14-15).
In the Old Testament, the dominant metaphor for sin was weight. Forgiveness would lift or carry away that burden, as in Genesis 50:17: "Say to Joseph: I beg you, forgive (lit. Hebrew, "carry away") the crime of your brothers and the wrong they did in harming you." However, due to the influence and spread of Aramaic language during the Second Temple period, this idiom shifted and sin became understood as a debt that must be repaid or canceled. Jesus' listeners would have immediately understood his stories about debts to be, in reality, stories about sin.
Jesus' stories and prayers make broad use of this metaphor. The Parable of the Two Debtors -- in which Jesus explains that one who has a large debt forgiven loves more than one forgiven a smaller debt (Luke 7:40-43) -- and the Parable of the Unforgiving Servant do not command financial debt forgiveness, but rather demonstrate by analogy the power and relief that accompanies the forgiveness of sins. It is sin forgiveness, not debt forgiveness, that is connected to forgiveness by God.
As the holder of a six-figure student-loan debt, I more than anyone would like to see debt forgiveness carry a moral force all its own. I appreciate the care for students and college graduates demonstrated in the Student Loan Forgiveness Act of 2012, as well as its emphasis on the health of the national economy. But there is nothing in the teachings of Jesus that suggests that literal, financial debt forgiveness is a moral or religious imperative.
Perhaps if Jesus were still teaching with parables, he could add this one to his repertoire:
"The kingdom of God is like a student who wanted to study religion. She completed a Ph.D. with a student loan debt of 10,000 talents. For years she struggled to find a job and make loan payments. She appealed to the Emperor for mercy, and he forgave all her debts. She felt like a weight was lifted! She resolved to work hard and be generous to others. And this is how God will deal with your sins if you are grateful and nice to other people."
The point is not that forgiving a monetary debt is moral act worthy of praise, but that forgiving transgressions can be like forgiving debts: an expression of generosity and care, a source of relief, and an inspiration to do good. Thus, Jesus would not call for all student loan debts to be forgiven; instead, he might use the illustration of student loan debt forgiveness as a positive analogy for divine or human forgiveness.
According to Rep. Clarke's bill, this is exactly the moral impetus of the Student Loan Forgiveness Act of 2012. The point is not that it is a good thing to forgive debts. Instead, the goodness comes from the positive effects on society: promoting higher education as a public good, providing relief for graduates suffering under enormous debts and contributing to a stronger economy. Debt forgiveness is a moral issue for these reasons.
If you support the Student Loan Forgiveness Act of 2012, please join the movement by signing your name at http://hr4170.com/.
Jennifer from http://cashadvancesus.com/
1) It is possible that the possibility of accumulation of over $100 K of student is a sign that one is NOT being called into ordained ministry at this time.
2) We have to work with the parables we have, not the ones we wish we had
3) "God will deal with your sins if you are grateful and nice to other people" is an error known as works righteousness and EXACTLY the opposite of Jesus' teaching. God has dealt with our sins through the cross, and our faith to Jesus Christ is what gives us access to HIS work."
The financial education in public high schools is abysmal to non-existent. A 17 year old has no idea what they're doing when they get accepted into college and all they have to do is sign on the dotted loan line. No clue. Until they graduate and pawn their dreams for rent, and try to make payments making less than they did in high school. The punishment (paying off loans for 20+ years with no hope of ever owning a home or affording a family) doesn't fit the crime. Universities prey on the naiveté and dreams, like the banks did with mortgages. The bubble will burst soon regardless.
Repay your loans or declare bankruptcy.
Even with living with my parents and using some scholarships through the military from my dad- my family still ended up in some debt over my tuition. Absolute insanity.
I think with the economy the way it is, and with unemployment still being high for recent graduates, we should help them with their debt. After all I think the older generation is responsible for the well being of the younger generation.
After working 15 years in Accounting with an associates degree, I reached my ceiling after a number of employers, including a hotel, mentioned that a bachelors degree was required for the next level. Even some jobs at the same level, accounts payable clerk, a company, after I assisted with a temp agency and trained a new hire for them, stated I needed a bachelors degree (new requirement) for that job.
I finally went back to college after years of top ramen, financial stress, and wholly clothes with not so well taken care of kids hoping to get out of this trap. Only to enter into a new trap of college debt. Well, why not? I dated one guy who landed jobs (with a bachelors degree) at starting salaries of $90k a year only for him to mess up and get fired. I figured wow, a degree helps. Didn't think about the wage disparities between men and women; however, now I do as I only earn $45k a year - with poor benefits and cost of living increase galore (high deductible medical @ $5900 before covered) with high premiums.
May the Good Lord bless and guide you until we meet again.
1) Where does the emperor's money come come from? Well your fellow taxpayer.
In your example the young lady completes a PHD struggles to find a job and has her debt forgiven. Great for her.
Does she than, after she gets a job, pay a special contribution to the emperor for the forgiveness or that she continues to expect that someone else takes up the debt repayment.
The emperor had taken money from her fellow citizen to educate her? Does she have no moral obligation to to make good her fellow citizen?
Off course if the emperor had his own money earnt from his own labour than the emperor is within his moral right to forgive the debt. In this case the money belongs to taxpayer not the emperor so how can the emperor forgive - that which is not his to forgive?
Do you think maybe you could have found a cheaper way to get an education, or went part-time and worked, or went into a different field?
Further, my article does not discuss my own personal financial situation other than to state that I carry a student loan debt. I take full responsibility for that debt and I am equipped to pay it back. Since you asked, I will say that I am completely satisfied with my all of my financial and educational choices, but again, that's not what this article is about.
Since you seem to misunderstand its point, I invite you to read the full text of the Student Loan Forgiveness Act of 2012 by following this link: http://www.opencongress.org/bill/112-h4170/text
You can all debate the morality of this question all you want. I just want to know what the best route would be from a strictly economic point of view.
Yup, we're adults now... but we weren't when we signed for these loans. Trust me, if my 18 year old self would have known what my adult self knows when I signed for these loans, I never would have done it. That's the danger in marketing government-backed, risk-free predatory loans to teenagers. I do hope you can find it in your heart to have a little compassion for the 36 million people who are in this position. I agree, not everyone should go to college, but they did. Are we going to blame them now for doing what they were told to do? Isn't that called "blaming the victim?"