Forgiving Student Loans Will Improve The Economy By Josh Freedman Analysis

Dai Phan
Ann Modzelewski
English 101
12/3/14
The various Viewpoints regarding Education funding
In the words of Josh Freedman, “higher education is viewed, as great equalizer that leads to social mobility. But selective colleges have long been accused of perpetuating class divides, rather than blurring them” (Freedman 1). Education is a key institution in today’s society. Education since history has been used as the tool for the eradication of poverty that translates to a better future prospect for the students. For many years education was viewed as the greatest equalizer in achieving society’s expectations of life. Both developing and developed countries looked up to education to create the balance between the economic disparities. For…show more content…
The author argues from a unique point of view that educational loans hold out freshly graduated students from boosting the economy by contributing to other economic sectors such as invest in homes and pay for vocational trips (Applebaum 2). The greatest stumbling block that is caused by educational loans is the limitation that they create on the purchasing power by the student graduates. In actual sense, lazy loan holders calling for free handouts should think of forgiving the educational loan as a scheme of economic growth stimulus initiative and not a call. Not even the new “pay as you earn” initiative is likely to solve the economic situation, at least not for private educational loans (Applebaum 4). Federal loaners may benefit from the new initiative, but, private educational loan holders will continue being burdened with the loans that continue to accumulate serious interest rates with each passing day. The whole point for the calls for forgiving educational loan is centered on the fact that educational loans have locked numerous opportunities for growth. For instance, according to the author, " the educated poor are not buying homes, not starting businesses or families, not inventing, investing or…show more content…
"Forgiving Student Loans Will Improve the US Economy." What Is the Future of the US Economy? Ed. Ronald D. Lankford, Jr. Detroit: Greenhaven Press, 2013. At Issue. Rpt. from "Forgive Student Debt, Fight the Recession." http://salon.com. 2011. Opposing Viewpoints in Context. Web. 1 Dec. 2014.
Borosage, Robert L. "Federal Spending on Education Should Not Be Cut." Education. Ed. Noël Merino. Farmington Hills, MI: Greenhaven Press, 2014. Opposing Viewpoints. Rpt. from "Sending Kids the Bill for the Mess Left by Wall Street." Huffington Post. 2011. Opposing Viewpoints in Context. Web. 1 Dec. 2014.
Freedman, Josh. "Affordable Higher Education Could Be a Great Equalizer." The Wage Gap. Ed. Noël Merino. Farmington Hills, MI: Greenhaven Press, 2014. Current Controversies. Rpt. from "Why American Colleges Are Becoming a Force for Inequality." Atlantic (16 May 2013). Opposing Viewpoints in Context. Web. 1 Dec.