Biden Admin May Forgive 10k of Student Loan Debt Per Borrower [the problem]

The Biden administration may forgive 10K of student loan debt per borrower. This has ramifications for both the economic landscape as well as the national moral framework. Nathan and Dustin talk through some startling statistics and what they mean for higher education. How does the free market price student loans and how is that being subverted by free government money? Jesus gave us a great example of how to treat indebted individuals.

#studentloandebt #studentloanforgiveness



Biden Admin to forgive 10K debt


Luxurious Amenities


Increase in DEI budgets




New College Franklin


Good Fight Outfitters


All things Christ and Capital:  ———————-SUBSCRIBE









Track Title: Persephone - Retro Funky

Creation: SUNDANCE (Remix)

My additions: clips from Jay Richards, Thomas Sowell, Walter Williams, Gary Vaynerchuk, Jeff Durbin, and Gary North.





Inflation in cost

Average cost since 1980 has increased 1200% (compared to 236% inflation, that’s almost 5 ½ times inflation).

Average cost per year of private college is $54,800 (factoring in all costs). ~$220,000 for a four-year degree.

Average cost per year (factoring in all costs) of in-state public college is $27,330 ($109,000 over four years); out-of-state is $44,150 ($176,000).

Average tuition and fees (not factoring room & board) of a private university in 2020 was $34,000 a year.

Average costs for a four-year degree from a private institution in 2017 $180,000.

Average tuition and fees (not factoring room & board) of a public university in 2020 was $10,200.

Average cost for a four-year degree from a public institution is $80,000.

For every $1 the government spends to subsidize college education through loans, the price of college increases by 60 cents.

50% of college graduates believe their college degree was not worth the cost.


Homeschooling on the rise and public school on the decline

3.7 million home school students (6-7% of school-age children).

Homeschooling saw a 67% increase since 2019.


Decreased enrollment

College enrollment declined by 6.6% between 2019 and 2020.

Male college enrollment has declined by 10% between 2019 and 2021.

Some projections indicate that in the near future only 1/3 of college graduates will be men.

Only 47% of high school students polled in 2021 were interested in going to college directly from high school.


Rising debt & declining employment

US student debt is more than $1.5 trillion dollars. This is higher than the yearly GDP of 187 countries. Only 14 countries have a higher GDP than US student debt. 

Average student loan debt: $39,000.

Average monthly student loan payment: ~$400 per month

Average student loan interest rate: 6%

2.6 million people owe more than $100,000 in student loans

Almost half of all university-educated Americans rely on loans to pay for their higher education

84% of American adults report that student loans negatively affect their ability to save for retirement.

Student debt has caused a large percentage of college graduates to postpone marriage, a family, and buying a home. 

More than 50% of student who owe $55,000 or more in student debt have taken jobs outside their field (compared to 29% of those with no debt).

Average student debt in TN is almost $27,000

Less than 50% of millennials say taking out student loans was worth the cost.

Unemployment rate of recent college graduates since 2016 (not factoring in 2020) has been 4%.

As of 2019, recent graduates in the humanities were almost twice as likely to be unemployed as the general population. 

The underemployment rate of recent graduates is 41%.


Bloated administration & non-instructional costs  

Between 1993 and 2007, administration costs rose 61%.

Administrative costs are rising at a faster rate than instructional costs, while not contributing to higher graduates rates or greater student success in the classroom. 

In 2019, 73% of the budget of public colleges & universities and 66% of the budget of private colleges went toward non-instructional spending. 


Qualitative—people valuing education less 

38% of Americans believe colleges are having a negative influence on the country. 

Only 50% of Americans think colleges are having a positive influence on the country.

50% of college graduates believe their college degree was not worth the cost. 


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