Tossing Salt Presents:
A Day of Dougie:
July 4, 2022
Happy Independence Day to all of my fellow Americans and welcome to A Day of Dougie. Yes, it has been a while, but I’m back. And why? Because a topic of discussion is on my mind and I want to say a few things. What more reason do I need, right? So in the words of Captain Oveur, “Joey, have you ever been in a… in a Turkish prison?” Let’s do this.
The big rallying point in Washington right now is a demand that the federal government cancels student loans. College kids can’t pay back the loans that they took out to go to college and it’s not fair and wrong that the students are being forced to pay these loans with predatory interest rates. That’s the argument being put forth by professional bullshitters and liars like Senator (Karen) Warren and her suck-up, pandering associates. And now, my reply.
It’s just this simple. If a person takes out a loan, signs the contract to agree to the terms of a loan, and to pay the loan back, then they are obligated and responsible for the loan, period. Did anyone put a gun to their head and tell them that they have to sign this agreement and take out this loan? Did they accept the money from the lender? If the answer is no to the first part and yes to the second, then as a responsible adult, it’s their job to pay back the loan they received. It’s not the Government’s job to pay it for them with taxpayer money and it’s not the lender’s responsibility to take less than they agreed upon when issuing the loan.
Predatory interest rates suck and they should be regulated. That’s the job of Congress and they haven’t been doing their jobs, too busy holding sham hearings and trying to protect their personal interests and kick-backs. But the law, as written, allows the lending companies to charge outrageous interest rates and if a person doesn’t do their research, doesn’t shop around for a better deal, and just signs up, agreeing to the terms of service, guess what? It’s their own damn fault for agreeing to those terms and they should be expected to abide by them.
And let’s touch on something else. There are claims that a college education is necessary and they had to take out these loans to afford school. And yes, you’re right. College is expensive and Congress should do their job and maybe look for ways to mandate costs and help lower the expense of getting a higher education. But how many of these people signing for these loans looked at other options? Maybe working a year and saving money to help offset some of the costs? Maybe such as looking at cheaper schools or community colleges and trade schools? How about going to the military first and getting an education that way? I would wager to bet very few. Instead, it jumped right into college and signed for a loan to pay for it with no regard or concern about the consequences. We live in an entitlement society as it is and this is just more proof of that.
The bottom line is this. I went to college and took some classes. I borrowed money to pay for my education. I would have loved to have gone to a big school, maybe UNC-Chapel Hill. I had the grades, but I decided instead to go to the local Community College because it was financially more within my means at the time. I worked several jobs, didn’t get much sleep, did without on a lot of things, and paid back every penny I borrowed, plus interest. I also partied like a rock star, but those are stories for another day. I’m just making a point. I never had anyone offer to “forgive my debt”. I paid my bills and accepted my responsibilities and no one helped. And that was the way I was brought up and the way it should be.
So boo-hoo all you want. Yes, the loan interest rates are insane and it’s not fair, but life isn’t always fair. In fact, it rarely is fair. Life can be a total bitch sometimes. Get used to it. No one was forced to take out a student loan. If you took out a loan, you signed the papers, got the money, and agreed to pay it back, interest and all. You made the agreement and you should be a responsible adult, quit whining, and pay it back, period. It’s just that simple.
And there you go. Comments, thoughts, or any questions are welcome and appreciated. Let me know what you think. Am I right? Am I totally out of touch? Let’s chat. Use the comment box below or follow me on Twitter at @Doug28352. And with that, I’m out of here. My thanks for reading and I’ll see you at the polls. Red Wave coming in November. Take care.