Student loan forgiveness is an issue of integrity
Just as a bridge needs physical integrity to function properly, so you need ethical integrity to function properly. In both cases, when integrity is breached, disaster is the result.
Putting aside the government’s role in creating outlandishly high college tuition through tuition subsidies, and why the government should not be in the student loan business in the first place, what is the morality of student loan forgiveness?
Facts of student loans
The facts are that you borrowed money from the government. That is, you borrowed money from me and the other American taxpayers, and you promised to pay it back. Regardless of whether the degree you sought was marketable or not, you are an adult and you made a promise. If you don’t pay it back as contracted, you have broken that promise.
You made that decision to borrow money, whether good or bad, and you must live with the consequences of your decision and not try to foist it off on me or on anyone else, whether the consequences are good or bad for you.
A broken promise is a breach of integrity
What is integrity? Integrity is congruence between what you know, what you profess, and what you do.[1] In other words, you walk the talk of the thought.
Why is integrity important? Integrity is a major virtue that is required to live harmoniously in a society. People have to trust that you will do what you say you will do. And you have to trust that they will do what they say they will do. If there is no trust, you can’t turn your back on anyone. If there is no trust you can’t believe them. If there is no trust, there is no functioning society. No integrity means no trust. A broken promise means no integrity.
Politically, partial or full loan “forgiveness” is a way to buy votes. The government subsidies college tuition which causes tuition to rise (Economics 101 – supply and demand) which causes lots of financial pain. Then it says, “Let us help you with forgiveness.” This is analogous to the government breaking your leg, and then giving you a crutch while saying “See how the government helps you.”
It is also another way the government is encouraging more class distinctions – in this case between those who go to college and those who don’t. Another form of collectivism.
Politics notwithstanding, this forgiveness by the federal government engenders and encourages people to break their promises. Is this the kind of society you want to live in, where the government encourages breaches of integrity?
What should you do?
Keep your promises. If you borrow money, pay it back, whether it is a home mortgage, a business loan, or a student loan. Maintain your own personal integrity. That way you can look in the mirror and tell yourself that you are a person who is trustworthy and keeps promises, a person who has integrity.
References
- Nathaniel Branden’s Self-Esteem Every Day Page 252 by Nathaniel Branden
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As you are probably aware, many discussions on this topic are sometimes unfriendly and contain logical fallacies. If you decide to leave a comment, or even outside of this post, if you decide to have a discussion, public or private, you might find it helpful to follow the suggestions on my post How to have a successful discussion.
Photo credit
- Collapsed bridge: Unknown author licensed by CC-BY-SA