Student loan forgiveness is immoral

On multiple occasions, I have explained why I oppose subsidized college. I have not yet addressed the related concerns of student loan forgiveness. Like subsidizing tuition, loan forgiveness strengthens and enforces the flawed and inequitable concept of credentialism.


Loan forgiveness is essentially a form of wealth redistribution, but it doesn't follow the normal pattern. Essentially, the government pays for tuition with expectations that the money will be paid back. Instead of transferring money to these people, we are effectively eliminating a revenue source, repayment, that helps fund the program. We then have to find a way to offset the loss of revenue. This could include higher taxes, spending reductions, or putting future generations on the hook. In a sense, the wealth of the general public is redistributed to debts of college graduates.

I'm not going to go into details about the pros and cons of wealth redistribution. Instead, I will try to make this simple. If we insist on redistributing wealth, we should do so in a more equitable manner. There are numerous Americans who learn best outside of a restrictive schooling environment. If people learn outside of the schools, they are facing serious discrimination. Some of these individuals are highly capable but struggle to find suitable employment. Without a degree, it is more difficult to earn a living. What this ultimately means is that those who are disadvantaged most by our nation's educational policies are ineligible for any benefits.

There's also another argument that most of us have already heard. Loan forgiveness is a wealth redistribution plan that disproportionately rewards irresponsibility. People who only take out debt they can repay get nothing. People who take out debt that they can't repay are rewarded.

Success in schools is not about ability or intelligence. The real keys to success are obedience and conformity. The standards for obedience and conformity are primarily set by government-run institutions. Even privately run schools tend to base their practices and expectations off of the government model. After all, credentialists generally don't want a single credential to have a million different meanings.

Like subsidized college, student loan forgiveness is designed to push the idea that everybody is expected to become products of our colleges. They reward those who conform to government standards and severely punish those who don't. They strengthen the idea that success is about letting an oppressive government control who you become. Anyone who dares to be an individual struggles to make enough money to survive. In a sense, these kinds of policies can actually threaten the survival of individuals.

On top of all of this, the increased number of people who go through college will contribute to degree inflation. In order to stand out for the best jobs, a simple college degree will no longer be sufficient. The degrees required for legitimate success will become more expensive and further out of the reach of anyone with limited means. Much like what we have seen with our K-12 system, economic mobility will be diminished.

The rich will get richer. The poor will get poorer. In some cases, even survival will be threatened. Student loan forgiveness is the latest attemp by the Democrats to say, "Conform or die."