Is This Any Way to Run a Loan Program?

This past Memorial Day weekend, an automobile accident claimed the life of a very accomplished and talented humanitarian. Laura Kavazanjian was a Brown University alumna (where she played field hockey), and also had a graduate degree in Education from Harvard. Laura wanted to save the world, and had a special place in her heart for marginalized girls in the developing world.

But, at about 1:30 AM on May 28, while sleeping in the back seat (sans seat belt) of a car driven by her fiance, Laura was killed when she was tossed from the vehicle as it left the road and rolled over. The couple was en route from their class reunion at Brown to a wedding in New York. [I am unaware of any information regarding the existence or nonexistence of any toxicology report in connection with the tragic incident.].

A loss to Laura's family, a loss to Laura's friends, and a loss to humanity!

And so, at the suggestion of Laura's Harvard classmates, the Laura Kavazanjian Memorial Fund was established, to help grad students who aspired to help Laura's marginalized girls in the developing world. Surely a fitting and proper memorial to Laura!

But now, Congressman Timothy Bishop has a new and novel plan to perpetuate Laura's memory and posthumously carry out her dreams. A few days before the fatal crash, Laura had repaid her student loan to the government in the amount of $44,462.25. So Congressman Bishop has written a letter to Arne Duncan, Obama's Education Secretary, requesting the Department of Education to make a donation in the amount of $44,462.25 to the Laura Kavazanjian Memorial Fund.

"Bishop explained if Laura had not repaid this loan, it would have been forgiven and would have become an expense of the Department of Education, making it a responsibility of taxpayers. The appeal to Duncan is to redirect the dollars Laura paid and it 'would be as if she had not repaid the loan,' the congressman said."

You lost me there, Timmy!

First of all, there is an obligation to repay student loans. Except under extreme hardship situations, they are nondischargeable in bankruptcy. Yes, there is partial loan forgiveness for those who enter certain professions, but the loans are supposed to be repaid! And yes, if Laura had died before she paid the loan it would have been forgiven. But Laura DID pay off the loan. By extention, Timmy, after I die, shouldn't the money I paid to satisfy my student loans be donated to my favorite charity? How about my car loans and mortgage loans which I have paid off during my lifetime? And how about my wife's student loans she incurred while going undergrad and medical school? Timmy, this doesn't click!


Secondly, Timmy, you and your colleagues have budget problems! I know that $44,462.25 is not going to make any difference in our nation's debts of trillions, but shouldn't you all be setting an example of austerity during these tight times? I guess it's your freewheeling sense of entitlement that bothers me, and I know that many other taxpayers have similar sentiments.

Thirdly, shouldn't the Department of Education's function be to provide for education of Americans? I have nothing against bolstering the education of disadvantaged foreigners. I myself make charitable donations to organizations which do just that (though it bothers the politically-correct thinking libtards to no end because most of the disadvantaged foreigners whose educations I support happen to be poor Jews in Israel). If Laura's friends and classmates wish to help educate young girls in Malawi, then they are certainly welcome and encouraged to direct their charity dollars in that direction.

[In such regard, Laura was a 3rd Generation Brown grad, her father and grandfather having graduated Brown and gone out and made something of themselves. Laura was a child of privilege (and, to her credit, she sought to use her privileged position to help the world, unlike so many spoiled trust fund brats who end up screwing up their lives). She lived in one of the wealthier school districts on Long Island. Her family and social circle certainly has the means to make charitable donations as they see fit. They are not so impecunious that they need the U.S. taxpayers to make their charitable contributions for them.].

And did Laura have life insurance? I cannot imagine someone of her socioeconomic class not having it. I had a life insurance policy when I was in college (best time to get it ratewise, worst time to get it premium-wise). She had no dependents, so why not use the proceeds from her life insurance policies to help those Harvard students get their degrees so that they can go and educate all of those marginalized girls in the developing nations of the world?

According to Tim Bishop's logic, the Department of Education's loans should be forgiven if they are not paid, and treated as though they are forgiven if they are paid! Even the big banks bailed out by Congressman Timmy and his cohorts didn't operate with such profligate and irresponsible lending practices!