Is It Morally Wrong To Apply For Student Loan Forgiveness?

Is It Morally Wrong To Apply For Student Loan Forgiveness?

Heather is with us in richmond virginia hi heather welcome to the ramsey show hi dave and christina thanks so much for taking my call today absolutely how can we help um so i uh paid my i had student loans starting from 2012 and i have been actively paying exactly as i should never went into deferment paid all the way through the pandemic and then decided

To make a lump sum to pay off um pay them completely off in january of 2021. wonderful i recently found yesterday but i recently found out that i would qualify for um that i really likely would qualify for the ride in student loan forgiveness and i’m wondering if there should be any moral dilemmas or misgivings about this um because i don’t you know i don’t

Need this money i’m on baby steps four five and six and so should i have any misgivings about possibly applying for this forgiveness um i don’t know if i’m allowed to tell you what your morals are um uh so i i can tell you where um okay so kind of let’s talk about a couple of metaphors all right to kind of walk alongside this on ethics a lot of ethics things

Are if you if you answer them uh and say how would i want to be treated if i were on the other side of this if you’re on the other side of something from another party then you can look at that that’s a little difficult here because this is the government you’re on the other side of so it’s kind of like it gives a rip on that part of it but like you know we tell

People not to use credit cards we’re just talking about that and then we have sometimes a business owner who’s gone through financial peace university paid off a bunch of credit cards gotten rid of all their credit cards only has debit cards and they hate credit cards and they own a pizza restaurant now do i is it a moral dilemma for them to take a credit card i

Tell them it’s not a moral dilemma for them to take a credit card uh because they don’t i’m a public figure i come out tell people don’t use credit cards so for me to use a credit card would be pretty much straight up hypocrisy right i came out and the state of tennessee passed uh this ridiculous lotto a few years ago and i knew the data on the lotto before they

Passed it the data on lottos if you guys out there don’t know is um the state of tennessee uses a lot of money to send people to college okay you get three four thousand dollars five thousand dollars or whatever if you live in the state of tennessee towards your college from the lotto fund however the lotto is primarily pa played by people in poor zip codes so

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It’s pretty much poor people sending rich people middle class people to school and so i i raised hell about that when they’re passing in the state of tennessee i lost the state passed it it’s been going for a decade or more and when my kids went to college you know they qualify for it’s not income based at all everybody can get the 3 000 bucks so do i go get

The 3 000 bucks no i’m a public figure that campaigned against it for me to go take that money then would be hypocritical but heather on the other hand you’re more like the pizza store owner you haven’t publicly come out and decried on the front page of the wall street journal that this whole thing is a scam and a bunch of freaking communists running dc you

Know you know like i have right and so you’re not in the same position of the ramsey personalities any ramsey personality to take student loan forgiveness as hard as we’ve come out against it would be inconsistent but but you know if our young lady 25 years old is a creative and works somewhere inside of ramsay is she morally wrong to take the forgiveness no

It’s a government program she didn’t steal anything she didn’t do anything wrong it’s not uh she’s not being a nerdy well so i don’t think you have a moral uh thing i also am okay if you decide you don’t want to take it on moral grounds either one would be fine with me is what i’m trying to say i don’t know you got a lot of thoughts about this yeah i’ve talked

To a lot of people the last several weeks i’ve done a lot of facebook and instagram lives hearing people’s opinions and it’s just all over the place a lot of people are really upset about it a lot of people are super excited about it and there’s just the whole whole range of emotions and i think it’s hard because i i actually put a pull out on my instagram to see

You know how people felt and about 80 percent of the people that responded had negative reactions they weren’t happy about the forgiveness and and all of that so i could understand if maybe your friends are frustrated about the forgiveness that you’re probably a little bit hesitant um and i also i think it’s okay to say hey you know i don’t know that washington

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Should have made this decision maybe you disagree with the decision and also still go but the decision’s been made and i’m going to go ahead and get the forgiveness like i think like dave said it really just depends on your own morals and what you decide but i think you can feel multiple emotions at the same time be frustrated if you want to be frustrated about

This isn’t decision but also realize the decision’s been made um possibly obviously there’s still some loopholes that have to be gone through we’ll see we’ll see but but also still get the forgiveness i don’t think it’s really you know bad if you end up getting getting some of that money back yeah and you know i guess another metaphor and this is probably a

Little bit harsh of a metaphor but you know a lady called in one time that was a single mom who had lost her job and had two little kids and um you know she said i i’m morally opposed to welfare but i need to take it to feed my kids right now and i said well are you going to take it as a way of life for the next 50 years no just so i can find something to work

To do and i said honey that’s what welfare is for go get your kids some food as a taxpayer that’s paying for that i’m i’m okay with that now do i want to finance you doing that the rest of your life no that’s not good for you it steals your dignity but but i’m not i’m not saying you’re some kind of uh horrible deadbeat single mom feeding your kid with a welfare

Check i mean right uh you know until you get until you’re able to land a job yeah and so that’s the same kind of thing this is probably that’s probably even more visceral or harsh than this discussion but um so yeah i i i i i’m going to be your friend either way heather is what i’m saying it doesn’t bother me but i think that people would judge me harshly were i

To take that or my family were to take that after i’ve taken a public person’s stand on it and i think that would be accurate to judge me that way because i think that’d be hypocritical you see what i’m saying yeah i um i just was feeling a little conflicted being that you know i i on one hand i can think of a lot of ways that i can you know i have a 529 for my

Daughter that i could put that money into i’m adopting next year but then at the same time i know that i don’t need that money when some so many other people do that it’s really important you’re not taking it from someone that that that would have gotten it and if you weren’t around like they’re not going to go hey heather got hers and we’re out so joan you don’t

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Get any because heather took it there’s not that’s not how the program’s going to work okay so it’s just going to be now i will tell you one other thing to think about and this is to thoroughly not answer your question is i the other thing i do sometimes particularly when we’re dealing with uh things where i i think i’m i’m feel like i’m right on something but

I’ll just do it anyway out of kindness or generosity because and the rule i use on that is when i’m 82 laying on my death bed am i which way am i going to be happy i did this inside my heart of hearts in my soul am i going to be happy i gave this a little bit more even though the server was horrible but i left a little bit bigger tip i’m never going to be mad

At myself when i’m 82 laying on my deathbed doing that but shorten them i might come up later and go gosh i wish i’d been nicer you know and so it when in doubt don’t kind of thing and that makes you further conflicted but the the biggest concern i got about the whole thing is you’re worried about it which kind of means you shouldn’t do it in a way that’s what

I’m saying but but that’s not a moral blanket i would throw over everyone out there listening to this conversation i think we’ve made that clear but yeah um yeah people are pissed and and we can wrap it up with this i kinda don’t think it’s gonna happen anyway i really don’t because they announced this and they never told the department of education anything

About it before they announced it and they never told uh and they never told you know none of the website now the administrative things there’s 33 million people they’ve got a process and they didn’t even tell the agencies that are going to process before they announced it it kind of makes me think they think it’s not going to happen man but if

It doesn’t happen at this point it’s going to be a train wreck oh either direction we’ll see they’ll blame it on the republicans

Transcribed from video
Is It Morally Wrong To Apply For Student Loan Forgiveness? By The Ramsey Show – Highlights