Tag: Debt

The Chicken Heart that Sucks Out Our Souls

Photo by Changbok Ko on Unsplash

The great Stoic Epictetus pointed out that education is the means to freedom.

Unfortunately, education today frequently becomes the means of slavery.

Everyone knows that the cost of higher education keeps escalating. Even the excellent tax advantages of educational IRAs and 529 plans haven’t made it easier to pay for college because education inflation outstrips the plans’ benefits.

A handful of families can afford to pay for their children’s education, but most cannot. So what do those families do?

The children get student loans.

The result? The loans often hound the children into their forties, forcing them to work intensely to pay the principal and interest. Does a man with a snootful of office life and savage commutes dream of what so many great men, from Epictetus to Russell Kirk, lauded: a leisure tinged with slight poverty, a small amount of money but a large assortment of books, a meager stock portfolio but a blooming garden, a mediocre car but lots of time with his children?

Tough.… Read the rest