Student Loan Forgiveness Is A Good Thing!


Covid impacted all of us globally, some more than others. The government’s halt on student loans has been a saving grace to the already dying black economy. The recent news that Biden will cancel $10k worth of student loan debt is a step in the right direction. For a group of people who have been under piles of debt this is a good start, but should only be the beginning.

It’s time to try something else and focus on the people. Let it trickle up.

Many underrepresented communities are suffering under student loan debts, medical bills, lack of valuable Healthcare and lack of good income.

Some may raise an argument of unfairness. But the opposition of unfairness when the people are on the receiving end of government aid fails in comparison to the trillions that were given to corps and wealthy individuals. The promise was always that it will trickle down but we’ve seen countless times that the trickle cease to happen the way it is intended. Instead it’s a faucet that pours right into the pockets of those who are connected.

The people are tired of the trickle down schemes and tired of being told to wait their turn when in fact that turn never comes. Or if it did, it comes as scraps with stipulations.

It’s time to try something else and focus on the people. Let it trickle up. After all, the money that people receive or save because of government aid tends to go right back into the economy. The people don’t have the luxury of locking it up in stocks, yachts and the likes. They will spend and fall into the cycle of capitalism.

Many want freedom from this cycle hence why minorities seek out crypto as a way to escape the never-ending cycle. They too dream of a life of ownership and to bask in a life of luxury. But to them a $10k debt forgiveness will do… for now.

Just don’t forget that there is an alternative in crypto or the new less threatening word “digital asset”. The people are waking up to the concept of decentralization and ownership. Blockchain is moving us forward in a way that we could never imagine, with a central theme of self sovereignty. Soon we won’t have to wait for handouts or student loan forgiveness.

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Author: Olayinka