Today In the U.S. one of the worst growing fears is the embrace of socialism by the young or younger generation, i.e., Gen X forward. The issue this cohort seems to not understand is that all their strife, complaints and more is because they are currently living the results of the socialism that has creeped into our nation over the past decades. Now, they believe solving their expanding misery is employing more of it and with greater gusto. Lenin would be proud.
I keep reading how many of our largest employers are “struggling” to find adequately trained help to do work that pay 6 figure salaries with real benefits. I also hear from a lot of these same companies (aka publicly traded) why they need H1-B visa expansions so they don’t have to pay higher wages. You know, wink-wink, to keep those profits inline for Wall Street.
There is a fix, and it’s as simple as this …
Since the government is now basically responsible for the funding for all student debt (instituted under Obama, 2010) college debt has exploded beyond comprehension, just like healthcare. Funny how that happened, no? But that’s how socialism works. The “cure” is usually worse than the problem ever was.
Ford® is the latest company pounding the tables trying to bring this issue more into the light. Here’s a recent quote from their CEO Jim Farley:
“We are in trouble in our country. We are not talking about this enough,” said Farley in an appearance last week on the Office Hours: Business Edition podcast.
So using this one example, let me lay out a plan that I believe could stem the tide with some immediacy. (these are over simplistic for a reason)
First…
In the noted article above Mr. Farley points to the fact that it takes about five years to train for some of these needed positions. So I recommend as an enticement to applicants to fill these positions, allow Ford to pay the salary that’s commensurate to their training level as they teach the applicant the necessary skill. Let’s use $80K as a working example to start. i.e., year one.
Next: Allow Ford to pay the student debt of the applicant either in real money or via a tax break of $10K per year to directly go against said applicants student loan balance. Paid directly to the debt holder, not the applicant. Or, said differently, no games. You also must freeze any interest accumulation from date of hire. i.e., True balance reduction.
Once the applicant is hired their student debt, whether in the rears or not, gets wiped from their credit scores. In other words, they no longer have to worry about this debt (as long as they stay employed at Ford for our example), relieving many stressed households and credit scores so housing and other “American Dream” scenarios are, once again, back on the table for possibility.
If the applicant stays with Ford for a year – they keep their reduction. Two year? Same, and so forth. i.e., No claw backs.
If after five years of training the applicant stays at Ford moving into the $120K job example, Ford can either incentivize (aka keep paying) the $10K payment as a bonus till their balance is paid or, they can stop and the balance becomes the applicants responsibility once again. That’s between the negotiation of the applicant and Ford. However, in this example, that would represent a full half paid (e.g., $50K) of a $100K student debt balance in only five years. This alone is nearly unfathomable to match for most college grads today. (i.e., $16 at Starbucks® ain’t gonna cut it.)
Yet, what you get out of this relationship is an immediate job seeker looking for a real life, and an employer offering a real change of life regarding student debt. Ford can choose the applicant that fits best, and the applicant doesn’t need to worry about their worthless degree major. It’s all in whether they can show they’ll be a good hire for Ford, if so, Ford will train them, and they get out from under their student loans. Simple as that.
But it needs to be that simple. i.e., the payment goes directly to the debt, no friction or slight of hand. Why?
If you remove the idea and strain from most people when it comes to student loan debt. i.e., “You won’t have to worry about it any longer if you take this route.” Both sides win with immediacy. If you start trying to get cute or over complicated with things like “We’ll give you $15K bonus a year to pay down you student loans.” Then the applicant does something other with that money than the real purpose, it defeats the real intent and purpose. Do I need to remind anyone how many “Spring Breaks” are financed with student debt?
But then there is, of course, the devil in the details which is – the U.S. government.
The government would need to stop these predatory socialistic servicing issues (aka usury) they invoke and allow the true meaning of capitalism be put back to work for Americans to work as Americans.
© 2025 Mark St. Cyr