It's not quite accurate, though. Indentured servants were free after seven years or so. Student loans are often a liftime burden.
Also, indentured servants got something out of the deal: free passage to the New World and all the relative opportunities and freedoms that this brought compared to Europe. Students get an education which very often has no effect on their employment situation. So they get a piece of paper at the end of it.
I suspect that indentured servants were also more aware of what they were getting into than 17/18 year old students who are brainwashed into the "go to the best university you can get into despite the costs because at the end you'll get a good job out of it" myth.
Student loan debt is a tool of oppression unique to modern day capitalism.
It's not even a loan in the sense that all other loans are loans. There's no collateral. You don't need to demonstrate any ability to repay the loan. There's not even credit checks because you're 18 and have no credit history. If you were accepted into a program, no matter how dubious the institution, you'll get whatever they declare the tuition to be in full as a loan. Tens of thousands of dollars a year.
Who would loan somebody money in this situation? Only a damned fool. But it happens routinely. Why is this? Because the loans aren't dischargeable in bankruptcy. The only way you'll be out of that debt is if you can show "undue hardship". What this means in principle is that you're ill or injured to such an extent that you'll never be able to work again for the rest of your life.
It's a swindle. And then you pay interest on top of this. For what? These banks create money literally out of nothing. How much is enough?
Now you're seeing the same repulsive, immoral system being imported to the UK. How many university graduates are working alongside P Large Jr in the data entry department? Proabably loads. I'd wager that fully one-third of the people doing data entry there are university graduates. Making eight pounds an hour. Casual Fridays. You get to wear jeans and trainers. But not ripped jeans. They have to be nice. And you still have wear a collared shirt. No cleavage for the women and skirts must be at least to the knee.
So what's the point of going to university? Why bother going? You're just going to the same job that some simpleton who didn't go to university is doing. Well, there's an off chance that a university degree might land you a high-paying job. So you're risking you entire financial freedom for the rest of your life on how the economy is going to be in three years' time. And it depends on your grades, networking, personality, family connections, what kind of university you went to, what you studied, all kinds of shit. Perhaps not worth the gamble.
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