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The Student Loan Game

In 2005 Congress passed a bill making it impossible for students to declare bankruptcy and find relief from crushing student loans; soon lenders were bribing university officials for a “preferred lender” status.

When firedBrian left the old man’s office, he remembered only two words: “Laid off…”

Long nights studying, meals skipped, evenings stolen: they owned him! He even moved his young family across the country. They promised him the “Fast Track.”

“…Clear your cubical…” the old man said somewhere in the conversation.

What happened just now?

He glided into his cubical and plopped-down: he was more alone than he ever knew before. He hoped nobody would try to talk with him.

Oh fool, his mind whispered, fool…The company would take care of them, he promised his wife.

How could he tell her?

Its actually quite simple: youre a number on someones spreadsheet.

It's confusing at first, but it's quite simple: you're a number on someone's spreadsheet.

The Life-Trap

How would you feel if someone stole $80,000 from you–and it was all borrowed money? It happened to Brian. It’s happening now, today, to hundreds of thousands across America. It will keep happening too: it’s set up that way.

The abuse of students by financial institutions is so widespread, Congress had to pass the Student Loan Sunshine Act to curtail it:

The controversy centers on the cozy relationships between private lenders and school officials, whereby colleges steer new students to preferred lenders who then reward the compliant staff with gifts and other compensation. For example, in 2005 JP Morgan apparently paid $70,000 for a harbor cruise in New York City for over 200 financial aid officers. R.P. Murphey

Didnt expect this

Didn't expect 30-years in prison.

But the Sunshine Act is far from informing students of what awaits them in college. It is a cold, well-oiled machine. It’s called the Education System, and it is a system without a heart. It is designed by nameless education engineers tucked away in some building in Washington. They mean well, but ask Brian and countless thousands–millions?–of kids who charged into deep college loans and see what they say.

Brian was railroaded like many high school students are today. They said he was “gifted” and flattered him with visions of monumental success, if only he would sign a lifelong contract for massive school loans. He followed all the rules. He earned his degree, he did what he was told.

But they said little about the cold and heartless money machine that grinds people’s hopes into bankruptcy. Capitalism doesn’t care about people. Capitalism cares about business systems, not the people working in the system.

When money gets tight, a spreadsheet somewhere triggers business systems to start spitting people out on the street. Apologies are useless and often nobody bothers.

Radio Shack laid off 5,000 workers by email. The instructions told them to clean out their desks by the end of the day:

“The work force reduction notification is currently in progress,” the notice stated. “Unfortunately your position is one that has been eliminated.” [format type=cite]NY Times[/format]

Who do you talk to when it’s just bulk email? Who looks you in the eye while your livelihood is terminated? More businesses would follow Radio Shack’s lead if they could get away with it. When the news went public, Radio Shack shares increased!

At any price the business system must survive, but people are disposable. It works that way.

Nobody told Brian about this beast called “The System”. Maybe he heard rumors, but a young kid in high school doesn’t know what to think about such rumors. Mostly Brian just trusted his teachers, and they all pushed him into it.

Broken promises

Broken promises

In 2005 Congress passed a bill making it impossible for students to declare bankruptcy and find relief from crushing student loans. The loans are so easy to get, young kids easily amass $100,000 or more in debts before graduation, and the colleges eat it up. Promises are made by nameless bureaucrats, and the kids don’t realize the bureaucrat was a nobody. They don’t realize the college needs the money, and they need recruits, and promises are meaningless.

That’s the education system.

The Bible calls it the Kosmos, and it’s a dead and dying place. It’s the last place that deserves any Christian’s allegiance:

The world is passing away, and also its lusts; but the one who does the will of God lives forever. 1 John 2:17

In this series we’ll investigate what the Bible says about living in such a place, and what Christians can do about it.

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5 Responses to "The Student Loan Game"

  1. lbeech says:

    Hopefully Brian was lucky and only had college loan debt – what about those poor sods who have car loans, mortgage payments, medical expenses and then the cost of raising a child. Perhaps Brian got off easy.

    When I look to the future and the futilty of building false security in this world – I get a real hankering for some land in the country, large enough to farm – for man is to toil in the earth (hehehe). But then this is just another diversion, huh?

  2. NeilB says:

    This is exactly how it is Keith. Just stay in line Brian, don’t even think of not going to college. Oh, you can’t afford it? That’s okay. You can pay later. What a deal, he thinks! Too bad it will cost his soul. Forever railroaded into the next thing… houses, cars, etc… We gotta break out of this system invented by Satan and get with the Jesus revolution!

  3. Dar McCallum says:

    This really does suck. To buck this system in any way results in a real backlash from society. Once you have someone chained to making money, you win! This loan issue is even worse when tied to the intentional indoctrination at the university level. It is a dangerous and seductive world we live in. How much more urgent it becomes for young adults to be redeemed by the Lord before they either get captured and enslaved by this system or completely buy into it. We need a…REVOLUTION.

  4. greg says:

    That really is shocking. Kids are in such a naive position. Everyone just seems to go along and say “yes this is the natural” or something when this isn’t like it was at all before. I could never have amassed that kind of debt when I was in school. How do you prepare for $100K debt when you don’t really understand what bills and expenses are and haven’t even had a full time job with benefits that makes $35-40K/year? That’s a heavy load to bear. Hopefully people are struck by it and decide to follow Christ. Those who don’t probably get more hardened and even sinister since they have been raped by the system.

  5. Hakes says:

    Ya know, that is exactly how I was raised. “If you want a nice home with a nice car and a nice family in a nice town, then you need a good job. A good job is only found after you go through college.” I’m honestly afraid to graduate from college and enter the Kosmos knowing that the system is failing…I mean honestly, at this rate, there won’t even be a system by the time I graduate! And what then…? All those years in school would’ve been for naught. So much time wasted on homework and studying for school when it could’ve easily been used to study the Word and grow in Christ! To focus on outreach rather than GPA’s, to work towards maturity rather than to work towards a degree. There it is….right there. Maturity via Kosmos is seen by degrees and economic status…it’s really an eyesore once the eyes have been opened.

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