Right now the student debt – (college tuition loans), is at about 900 Billion Dollars! 33% of them are subprime (or high risk) according to Transunion Credit Bureau. It’s also reported that about 33% of the borrowers that are in the repayment stage are late by at least 90 days. 93% of the 900 Billion Dollars loaned is provided through our Government – in the end, the taxpayers will be footing this bill. Why is this happening?
Who is Alexander Tyler?
Years ago, when our country was first being established, a professor from the Athenian Republic, named Alexander Tyler wrote:
“A demoncracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves a largesse (generous gift), from the treasury. From that moment on, the majority will always vote for the candidates promising the most benefits from the public treasury, with the results that a democracy always collapses over loose fiscal policy and is always followed by dictatorship.
The average age of the world’s greatest civilizations has been 200 years. These nations have progressed through this sequence: From BONDAGE to SPIRITUAL FAITH; from SPIRITUAL FAITH to GREAT COURAGE; from GREAT COURAGE to ABUNDANCE; from ABUNDANCE to SELFISHNESS; from SELFISHNESS to COMPLACENCY; from COMPLACENCY to APATHY; from APATHY to DEPENDENCY; from DEPENDENCY back again into BONDAGE.”
Who Has a Right To a College Degree?
How did college education become a right? How did college tuition become the responsibility of the Federal Government? It seems like, somewhere between ABUNDANCE and SELFISHNESS, we decided to vote for more handouts – where are we now in this sequence? Are we moving toward dependency?
Back in the early 1980s, Jim Sammons in his well know Financial Freedom Seminar, suggested that perhaps, money or lack thereof is just one of the indicators we should consider when considering what God would have us do. If you are short on collage tuition, rather than taking out a college loan, you might first ask, “Why isn’t God supplying the money I need for college?” Perhaps it’s not the route He is calling you to.
© 2013, David Stelzl