The author (Joe Mihalic) is really determined to combat and destroy student debt from the student loan program that was imposed by the government decades ago. It was clear that most people were victims of student loan and until now, the problem of paying the loan still exists especially when there are quotas.
The author is trying to persuade the reader as well as the debtors to stand on their right to eliminate student debt. It is sad to imagine that after college, you have to carry a burden because of this debt. It was stated that a student who graduates from college has a total debt with an average of $25000. So, where will they get this much of money? This situation brings the author to battle against student debt.
Applying to student loans
This book tries to awaken the students that are currently applying to student loans to be aware that this loan is a “death threat” to them. He tries to inform the debtors that although they are not affected right away, somehow it will have a huge effect on them. It is clearly stated in this book that a student loan is not actually helping students, instead it just leads the students to destruction. They are corrupting the young minds that are uncertain of their future to borrow and register in student loan for their future’s sake, when in fact they only put them total devastation. In this book, it is elaborated that students tend to enjoy the benefits of the loan at first when they are still studying, but they can feel the agony of the loan once they graduate from college. At this stage, (after graduation) they will be confused on how and where to get the money to pay the loan.
This book wants to spread the message that creditors are only after the profits that they can reap through the interest on the loans. It shows that mostly the interests that the people pay, indeed goes directly to the pockets of the creditors. What the debtors don’t know is that there are unnoticeable hidden charges and that the interest can be doubled or tripled. Worst, the loan company sets rules that they will impose huge penalties for those who delay in making timely payments of their loans.
It is indeed true that student loans are the enemy #1 because students are obliged to pay big interest on their loan. Since they are obliged to pay it, then they cannot fully enjoy their life in latter days most especially when they have families of their own because of the burden of the student loan. The book gives an idea that the creditors are ruthless. This is because even if you lose everything you own and are declared bankrupt, the creditors will continue to force you to pay the loan unless you are disabled. Therefore, in the author’s opinion, student loans are not a helping hand to students but are the destroyer of every student’s dream.
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