Pay Back
Isn't it human nature to try to avoid paying what we owe?
Pay to all what is due to them; taxes to whom taxes are due, revenue to whom revenue is due, respect to whom respect is due, honor to whom honor is due. - Romans 13:7
Back in Roman times, people needed to be reminded to pay for what they bought, borrowed or owed as taxes.
How do you feel if you have to pay the full price when someone else gets a break and pays less or even nothing for the same thing?
There is a movement to reduce debt, and it has a valid message. The cost of college has gotten out of control, like the cost of healthcare. But rather than finding ways to reduce the cost, people want someone else to pay for them.
Is that fair?
I watched the reaction of the graduating class at Morehouse College when they were told their debts were paid. They were naturally ecstatic. But what about the class that is graduating next year?
The college is happy, and the loan officers are happy, but nothing was done to reduce the actual cost of education for anyone.
In fact, when we take something out of the free market and subsidize or pay it off completely, the costs can go up. not down.
Today's scripture reading tells us to respect those to whom respect is due and honor our commitments to all.
When costs get too high, people make decisions based on price and affordability. I may put off that doctor visit or apply to less expensive schools.
If everyone did that, the system would feel the impact on the wallet and have to make changes, just the way companies make changes when raw materials become scarce or customers choose competitors.
It is a great gesture for someone to step in to pay off the debts of someone else, but then what?
Will others feel slighted? Will they default on their loans or fail to pay bills?
If we want to influence institutions to lower costs, we need to stop using their services. They will get the message. But if we compete against one another for the opportunity to go to the high priced school, shouldn't we have to pay the price?
That which we obtain too cheaply, we esteem too lightly.
Costs need to be managed, not paid by someone else for us. If it is too high a price, make them lower it. Or no one will have incentive to manage costs at all.
More to come...