HOW INTERCESSORS CAN BREAK THE BONDAGE OF STUDENT LOAN DEBT IN AMERICA
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HOW INTERCESSORS CAN BREAK THE BONDAGE OF STUDENT LOAN DEBT IN AMERICA
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For years, a college education was considered a necessary right of passage for a high school graduate who dreamed of earning a decent living in America. For one in three youth who attend college, that dream is financed with a student loan. Once out of college, they join the ranks of 43 million adults who carry an average student loan of $37,000. Currently, America’s federal student loan debt exceeds credit card debt and is approximately $1.6 trillion, and that does not include student loans from private sources, estimated at $119 billion.
While the data is staggering, it points to spiritual problems that affect the influential spheres of family, economy, and government.
Our families suffer as many borrowers, in order to pay off their loans, delay having children or elect to not have children at all. The economy suffers as many cannot afford a home, invest in savings for their retirement, or for their children’s future education. These activities were the norm for their parents, but no longer an option for the youth in the throws of repaying a student loan.
This problem has the potential to cause the United States to become a socialist nation, as borrowers contemplate casting their vote for a candidate who promises debt forgiveness. Could they possibly sway the 2020 election in their selection of a socialist candidate who will forgive student loans?
Who is to blame for the staggering amount of loan our youth carry? A recent article from the Federal Reserve Bank of New York Research ties tuition increases to student loan debt. Universities use the extra money to hire more professors, embark on building campaigns, and give their presidents larger salaries. There appears to be little concern for the student and the subsequent burden of debt as a result of the increased tuition costs.
Many find it next to impossible to repay their loans. The loan default rate is 45% for those with loans who did not graduate or graduated with a certificate, 13% for borrowers who obtained a degree, and 6% for borrowers who completed a graduate degree.
Consequences of defaulting on a student loan are brutal; unlike other debt, student loan debt cannot be erased by bankruptcy, following the former student for the rest of his life. Credit can be ruined, wages garnished as well as social security benefits, tax returns seized, and not being able to re-enroll in college. This happens even though the inability to repay a student loan may not totally be the borrower’s fault as there are no consumer rights or protections on the federal or state level for student debt, one of the only types of financial transactions with no consumer protection.
Most of the Democratic presidential candidates have stated their intention to tackle the nation’s staggering student debt crisis. Only Bernie Sanders and Elizabeth Warren have proposed a plan for some form of debt forgiveness. Bernie Sanders proposes forgiving all $1.6 trillion of outstanding student loans, while Elizabeth Warren’s plan would cancel $50,000 in debt according to household income.
In December 2019, Secretary of Education Betsy DeVos suggested the idea for the federal student loans to be managed by a stand alone lender that would be separate and independent from the Department of Education. DeVos’ plan was ridiculed as a “scheme.”
At the very core, our high schools do not train students in financial literacy. Once they enter college, credit card companies solicit their business, and two-thirds will take out student loans to finance their education. It’s the perfect open door for a spirit of poverty to enter.
If we are to conquer the student loan debt in America, we must first have intercessors who will pray for our youth to be delivered from a spirit of poverty and a spirit of mammon. Those intercessors will understand the need to pray off generational curses and believe God for financial blessings to be a part of the American dream. We say our youth will no longer be without hope and subjected to those who entice them into debt. They will live in the freedom of God’s financial blessings. Amen.
About the Author: Nancy Huff is an educator with a mission to equip believers to pray strategically for the Cultural Mountain of Education. She has authored Taking the Mountain of Education: A Strategic Prayer Guide to Transform America’s Schools. She leads prayer groups to pray at key educational locations across the US. Currently, Nancy serves as the Heartland Apostolic Prayer Network (HAPN) Lead Prayer Coordinator for the Mountain of Education. For additional information go to: https://takingthemountainofeducation.com/author/nancyahuff/
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Heavenly Father, I come to You seeking Your mercy for the deception that the college students have believed about borrowing money without having to pay it back. The students are young and inexperienced and many do not know Jesus as Savior. Many do not know what Your Word says about borrowing money. Proverbs 22:7 says,…” the borrower is servant to the lender.” I pray these students would be told the truth about borrowing money.
I pray that You would give Your leaders wisdom to guide the students and creative ideas as how to solve this problem. I know that You have the perfect solution to this problem. Open our ear and our hearts to hear clearly what should be done and how to do it. Amen
Many expenses students incur today that are unnecessary involve living away or home. These can be eliminated when they live with parents and attend local, or junior college for the basic courses. Also, unnecessary are the expensive “tag ones” that. Olleges charge fo unnecessary “survices “ that are never utilized!
We raised four (4) BEAUTIFUL ADULTS who received great diplomas and degrees BUT NEVER INCURRED STUDENT DEBT!!! Praise God!!! NOR, DID WE INCUR DEBT FOR THEIR COLLEGE DEGREES!
Let this not be yet another instance of shifting responsibility. Let us be thankful for the exposure of this serious issue with far reaching ramifications. Let us see it as it is, a decades-long agenda for the left to gain control of our society.
Beyond that, the pressure should be on the partners in the crime: colleges and universities that charge atrocious tuition and financial institutions that entice young people into borrowing exorbitant amounts of money. If the money wasn’t there tuition could not be so high. It’s the same thing that happened upon the advent of the credit card. No longer do we have to wait until we have the money to purchase. Now tons of people are in debt with seemingly no way out. Lenders are making bank on the interest.
None of this should become a burden on society. However, the dems will continue using the misfortune of others to get elected for the purpose of making us all slaves in their socialist society.
Thank you Lord God for bring truth to light! May it be used against the enemies of the freedom we enjoy in our land in Jesus name Amen!
I very much appreciated your comment. My memory may not serve me correctly, but I seem to recall the astronomical push from the previous administration to go school on this almost ‘free’ money until a great majority took the bait and the ‘ride’ until pay back came around. Then the tables turned and they’re all holding the consequence. I strongly educated my children against it as they watched a great many of their friends jump in. It was a cunning, deceitful plan, strategically set up for “such a time as this (as Now!) Well thought out And here we are….
Lord Jesus ….
God, give us Wisdom in prayer to undermine the false philosophies and ideologies driving the precepts in education. Dismantle all false hopes & dreams propagated by high school guidance counselors and college recruiters across our country. The problems are systemic!
21% of all careers require a Baccalaureate Degree (4 years post secondary) or higher for entry level positions! The rest 2 year associates degree to enter the work force. Whose minding the store of Guidance in high schools?
I taught I.T. at a high school and never advised students going to college on borrowed money, especially when they had no idea what career path the desired. I hope I saved some from the debacle. I told them to get a job and mature, until they had things sorted out.
During the fall semester, guidance would have students announce for student loan information daily in the P.A. It went something like this:
“Hey, do you want to go to college? Come get ‘Free Money’! Pick up your F.A.F.S.A. application in the counselors office today!”
I attempted to address that approach with the Principal as students have to pay it back at some point. I would take the time to explain to my students there us no such thing as free money.
As we pray regarding generational curses and mammon, we pray also for repentance. Repentance for lack of self control in spending and laziness regarding working and earning before spending . We pray that eyes will be opened to see the lies of the democratic candidates who say that money is available to erase the debts and in the future to give out “free” education. Lord, have mercy upon us.
Lord, how to escape the great burden of debt is a mountain so high…with peaks concealed in clouds of fog. I cannot even see a solution. Yet there is no mountain that will not bow down at the sound of Your name. Your wisdom is infinite–there is nothing You cannot do by Your unsurpassing power. You are able to do abundantly beyond what we can imagine or hope. All the gold is Thine and all the silver is Thine, the storehouses of Heaven have more than the sum required to clear every penny of student loan–our national debt, every mortgage, car loan, credit card loan could all vanish in one atom of time if You but speak the Word, O God. LORD, we are in this bondage because our refusal to walk in Your ways. Should an unrepentant people receive such a gift…would we not happily plunge ourselves into debt again like pigs returning to the mud and dogs returning to lap up their own vomit? I pray You would not merely “pick up our student loan tab” but rescue hearts that have sold themselves–indeed sold our nation–into this bondage through willful ignorance and defiant rebellion against You. Lord, show us Thy mercy–our children have been taught fake history and have been fed fake news and lured into the depths of rebellion against Thee. Woe to us for we have quarreled with our Maker. We have sinned against Thee, O God in running headlong away from the truths that lead to repentance and result in salvation! O! If only we had listened to Thy Word, then our peace would be like a river and our well being like the waves of the sea! Have mercy, O Lord! Forgive us, O LORD! I pray Your Spirit would convict this stiff necked and obstinate people of the multitude of sins with which we have built this great mountain of debt with our hands–from the greed of obscene salaries and excessive grandeur to attitudes of entitlement and irresponsibility that have built this stronghold brick by brick–that souls would see our desperate need of You, the All-wise God Who alone takes away the sins of the world and delivers from bondage. I pray for the gracious gift of conviction and repentance that leads to life. May the hearts of the enslaved humble themselves before Your throne and find mercy and grace to help in this terrible time of need so as to be eternally united with Your heart, that You might exalt us in due time. In Christ, by the blood shed on our behalf to secure our freedom, and to Your glory I ask You to receive my pray and grant my petition.
Amen and amen. Saved this prayer to return and repeat often. Amen.
Dear Lord, we pray that you would break generational curses off America’s youth and that you would release your heavenly blessings on them and their families. We thank you for what you are doing for America’s youth and what you are continuing to do. In the mighty name of Jesus we pray, amen.