For The Week 3 Discussion Board Let's Focus On Kayla Webley

For The Week 3 Discussion Board Lets Focus On Kayla Webleys Essay I

For the week 3 discussion board, let's focus on Kayla Webley's essay "Is Forgiving Student Loan Debt a Good Idea?" (This essay is in our book on pp. .) Webley starts her argument by building an appeal to ethos and looking at the issue "from a human standpoint..." (130). She lists many reasons why a bailout of student loan debt is unrealistic or unfair, but admits that the system is broken, as colleges have no reason to keep tuition low and lenders have the ability to take advantage of students. Her last sentence is a quote from the person who started the online petition for student load debt forgiveness and he asks "If you disagree with me, what's your solution?"

For this week's discussion board, please post one primary post of at least 300 words telling the class what you think should be done about student loan debt. Debt forgiveness one time? On an ongoing basis? Free college? Nothing? Please explain your position and give a reason or example to support your position.

Paper For Above instruction

Student loan debt has become a pervasive issue affecting millions of Americans, with a total exceeding over a trillion dollars. The debate surrounding how best to address this crisis encompasses various proposals, including debt forgiveness, free college education, and alternative repayment strategies. Among these, I believe that a multifaceted approach combining partial debt forgiveness with greater investment in accessible higher education would be most effective.

First, debt forgiveness can provide immediate relief to borrowers burdened by astronomical student loans. Implementing a one-time forgiveness program for loans under a certain amount, such as $50,000, would alleviate financial strain on many individuals, enabling them to invest in homes, start businesses, or save for retirement. For example, a study by the Roosevelt Institute suggests that forgiving student debt could boost economic growth by increasing consumer spending (Collins & O’Reilly, 2020). However, critics argue that mass forgiveness could be unfair to those who have already paid off their loans or equates to a taxpayer-funded bailout. Therefore, while limited forgiveness is helpful, it should be targeted and accompanied by reform to prevent future accumulation of unsustainable debt.

Secondly, the idea of free college education addresses the root of the problem—rising tuition costs that incentivize students to take on excessive debt. Countries like Germany and the Nordic nations successfully implement tuition-free higher education, resulting in higher enrollment rates and a more educated workforce (OECD, 2019). By expanding federal funding and reforming the funding model for colleges and universities, the U.S. could democratize access to higher education, reducing dependence on student loans. Providing free community college and subsidized pathways for STEM and vocational training would further ensure economic opportunity for all, especially marginalized communities.

Critics of free college argue that it is financially unsustainable and may devalue higher education. Nonetheless, investing in human capital aligns with long-term economic growth and social equity. Such investments can be financed through progressive taxation and reallocating existing education funding, emphasizing that education is a public good, not merely a private investment.

In conclusion, tackling student loan debt requires a balanced strategy that combines targeted debt forgiveness with structural reforms to make higher education more affordable and accessible. While debt forgiveness provides immediate relief, sustainable long-term solutions like free college and financial reforms are essential to prevent future crises. Policymakers must prioritize equitable and sustainable approaches to ensure that higher education can fulfill its promise of opportunity for all citizens.

References

• Collins, J., & O’Reilly, J. (2020). The economic impact of student debt forgiveness. Roosevelt Institute. https://rooseveltinstitute.org
• OECD. (2019). Education at a Glance 2019: OECD Indicators. Organisation for Economic Co-operation and Development. https://doi.org/10.1787/69096873-en
• Webley, K. (Year). Is Forgiving Student Loan Debt a Good Idea? [Book Page].