June 01, 2014

Letter to The Editor

Frederick A. Beckman

 

Dear Mr. Belmar:

Your “Washington Scene” column, “The Student Debt Crisis: Seniors Included!” (VOE Vol. 26, No. 1, Spring 2014) about the $1.2 trillion student loan debt stirred my interest. My personal interest is my grandson’s $6,000-plus balance, which he is paying without any problem, since he and his wife both have excellent jobs as a result of college educations. My entire education was paid for by the U.S. (Navy V-12 and G.I. Bill) (except for $500 my parents paid for my freshman undergrad year). The government came out way ahead on its investment by collecting the income taxes I paid over the years. It occurred to me: why not a GI Bill that would enable the United States to pay off or forgive the balance due on student loans? $1.2 trillion is a lot of bucks, but it’s small change compared to the funds shelled out to keep Wall Street and GM afloat.

Unfortunately the pirates who operated the worthless schools who scammed a lot of people won’t be on the hook. Again, the United States would collect a lot of extra tax money from those who gained from their educations. For the rest of the people who don’t gain, the future will be a lot brighter with this financial load off their backs. Of course, there will be congressional wailing about “welfare,” but that’s what we heard about Social Security, Medicare, and the GI Bill. This would be an investment that would eventually benefit the country.

Sincerely,

Fred Beckman

Beckman Lawson LLP

Fort Wayne, IN

The author responds:

Dear Mr. Beckman:

Thank you for your comments. It is nice to know that people are reading my column and that the subjects are proving to be topics of interest. Your ideas deserve forwarding to your elected representatives. One additional concern is how we pay back the Chinese, who lent us the $1.2 trillion!

Best regards,

Warren Belmar

Frederick A. Beckman

Frederick A. Beckman is a member of the Senior Lawyers Division.