A Not So Educated Prosperous Society - 1994 Words

A not so Educated Prosperous Society A society built on the foundation of well-educated citizens will prosper and potentially eliminate corruption. Well-educated citizens make important contributions to business innovation, productivity, and national economic performance. (The Conference Board of Canada, 2015). Such citizens tend to make sound decisions that affect their quality of life and earn higher incomes, leading to a lifestyle of prosperity with social security and higher quality of health. Citizens actively contribute to the overall development and growth of the society. The reality in Canada is that about 25% of Canadians aged 25-65 have a university degree and will contribute to the development and growth of the society. Major†¦show more content†¦This constraint restricts their quality of life and contribution to society. Since we are in the business of profiting off of the debt of the next wave of contributors, why not profit from the indebted and their skills? The reality is that students have no realistic horizon and they might as well not live in the present. I believe that a debt must be repaid whether it is in the same or different units of measure. If the student does not have the finances to repay their debt, then it is best that their life and knowledge is no longer their own and controlled by the institutions and governments indebted to until the loan’s conditions have been fulfilled. These institutions can very well farm the knowledge gained by the student and grow the economy without having to worry about salaries, further reducing the cost of research and development that will then lower the baseline of corporations and institutions. I understand that this may be a mouthful to comprehend, but I assure you that it will work similarly to owing a mortgage on a house and declaring bankruptcy. In this scenario, the financial institution claims ownership of the house and the residents are kicked out, as they are unable to meet regular mortgage payments. As for the students, the loans were used to gain knowledge and methodologies from post-secondary programs. This information gained is now under the