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Wake Up, Illinois! You're Already Bailing Out Student Loans

By Jeanne Ives

It’s Reveille!

Like a drill sergeant at 5 AM, Nothing screams WAKE-UP, more than a bail out of student loans.

Democrat Presidential candidates Elizabeth Warren and Bernie Sanders were ridiculed and confronted by angry taxpayers over the idea.

Average citizens thought it was so inherently unfair that when push came to shove, it would be universally rejected.

Afterall it is personal debt with no asset behind it. And no guarantee that the money was used wisely.

Well, WAKE-UP Illinois because It’s Happening. Your tax dollars are NOW paying off other people’s student loans.

In 2019 Illinois passed a $45 Billion Capital spending plan. Unbeknownst to nearly everyone, the plan included $25 million to pay off up to $40,000 of other people's student loans if they purchase a home in Illinois. And give them an additional $5000 for a down payment.

A recent Chicago Tribune article stated that the program began last December and the agency said it will make access to homeownership more equitable.


Also according to the Trib, Between up to 1000 people are expected to be served by this SmartBuy program, but more than 2 million Illinoisans have student loan debt.

Does that sound equitable to the other 1,999,000?

Or the students who worked through college, earned scholarships, went into the military, went to a less expensive school or whose parents scrimped and saved to send them?

Or to those who didn’t even go to college?

The story gets worse. The money to pay off these loans is BORROWED money…Backed up by 20 new taxes and fees supposedly for infrastructure.

Every time you fill up your car now, remember that the higher gas tax you pay at the pump is paying off someone else’s student loan.

We have lost all sense of personal responsibility and limited government.

The politicians in this state have gone too far. There is NO fairness in student loan bailouts.

I’m Jeanne Ives, co-founder of Breakthrough Ideas. Find out more at Breakthrough-Ideas.com.

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