Forgiving Student Loans

Are you in favour of forgiving student loans?  Joe Biden is trying to do just that in the USA.  That means Justin Trudeau won’t be far behind if Biden gets his way, especially with federal elections looming (2024 for the US, 2025 in Canada).  Is this move a bid to win votes?

The Advantages of Forgiving Student Loans

The advantages are somewhat obvious, especially to those eligible for the program.  Paying off (or at least reducing) the massive debt owed by students will certainly boost their economic status. 

forgiving student loans

The Disadvantages

A Divisive Move?

Some feel this move will be divisive, just what any country does not need right now.  The students (or former students) whose decisions on what degree to aim for and where to go were based solely on their economic status. 

I am one of those.   I would have loved to go to university to pursue a career in accounting or teaching.  I could not afford it, nor could my parents afford to help out.  As the fifth of six children in our family, I was only eligible for a small student loan and no grant.   Instead of following my dreams at an out-of-town university (there was not one in the small town I grew up in) I lived at home and went to our community college.  I still barely managed to afford this choice, with a student loan to pay off as a graduation gift. 

Did these facts make me work harder to achieve my diploma in medical laboratory technology?  They sure did.  Does that mean I don’t see the need to help some students deserving of forgiving student loans?  No, but I would like to see lots of conditions so two steps forwards don’t result in four steps backward for the economy, inflation rate, healthcare, and so on.

Will the Rate of Inflation Rise More?

The Federal Reserve Bank of Richmond (in the US) believes it will:

There could also be some stimulating impact, as the debt cancellation could free up borrowers’ cash flow, and the additional spending may create more tax revenue.

However, at the same time, this is also likely to be inflationary.

A key concern about the debt forgiveness program is its inflationary impact in an environment where inflation has been persistently elevated for over a year.

Shifting the Burden to Taxpayers

The Conservative argument is that forgiving student loans would simply (and unfairly) shift the debt from the students to their federal government.  And we all know taxpayers pay for government debt.  Unfortunately, when money gets funneled into one program, other programs suffer.   So, students like myself that struggled to pay for their own education will now pay taxes so others do not have to pay for theirs. 

Biden’s Proposal for American Students

Biden’s proposal says borrowers with an annual income of up to $125,000 or households with a combined income of up to $250,000 are eligible to apply for $10,000 to reduce their current student debt.  However,  those currently with an outstanding debt of less than $10,000 will only get reimbursed for whatever their balance is.  According to the Congressional Budget Office, up to 43 million applicants will qualify for at least partially forgiving student loans.

The Canadian Version

In Canada, the National Student Loans Service Center (NSLSC) implemented its own version for forgiving student loans.  Sort of.  They, from April 2021 to March 31, 2023, eliminated the interest accrued on student loans.  However, any interest accumulated before that date is still owed.  This interest elimination was recently extended permanently after April of 2023. 

In November of 2022, some Canadian provinces lowered maximum payments to 10% of household income from 20% and changed their zero payment income thresholds.  To apply for their Repayment Assistance Plan (RAP), log into your NSLSC account.  So far, only students from New Brunswick, Newfoundland and Labrador, Manitoba, and Saskatchewan are eligible.   Hopefully, other provinces will follow suit. 

Conclusions

I believe, and I realize this may sound selfish, that the majority of our taxes should be for improving the core services our citizens rely on.  Stuff like roads and infrastructure, garbage collection, snow removal, and especially our flailing healthcare system. 

Since graduation years ago, we (hubby and I) paid lots of tax dollars to raise three now self-sufficient children in a comfortable lifestyle.  We chose to have three children because we believed that if we worked hard we could afford to feed, clothe, protect, entertain, and yes, educate them.

Of course, like most other citizens,  we continue to pay taxes too.

Now seniors, we have reached the age where affordable, efficient, and available healthcare is more of a priority to us than forgiving student loans.

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Generation Labels, Lifestyles, and Personalities

generational labels

Generation labels have been assigned to cohorts based on birth date spans. Supposedly, Baby Boomers, Gen X, Y (AKA millennials), and Z have specific lifestyles and personalities assigned to each. You can go back further to post-war and WWII but the more recent cohorts are discussed most often. Perhaps because those born in the earlier categories don’t care much for or rely on social media, the major source of the comparisons. Thanks to social media, generational warfare is becoming a thing where members of one cohort ridicule or generalize (negatively) another.

What are the Generational Cohorts?

research provided me with this chart:

generation cohorts

Notice that the Boomers have two groups because the span of years is so large. Also, note that this cohort chart ends with those born in 2012. The most recent generation cohort has since been labeled with Alpha, spanning the years between 2012 and 2025.

Baby Boomers

This generational group was so labelled thanks to the explosive spike in babies born post WWII as men returned from war and countries recovered from the great depression. New found peace and prosperity resulted in a confident and strong economy. Companies and labour unions grew providing a bright future. Boomers grew up in a world full of wonderful possibilities where a strong work ethic and hard work could lead to success. Many started work young and continued to work throughout their school years.

They value family security, honesty, responsibility, skillfulness, and a sense of accomplishment. Baby boomers are often thrifty since they were raised by parents that lived through the depression and/or WWII. Others wanted to provide for their family the material things they never had or experienced when they were young.

We (both hubby and I are in the younger of the two Boomer groups) do sound boring on paper.

Gen X, Latchkey, or Post-Boomers

Gen Xers are great at maintaining a work-life balance, solving problems (resourceful), and being independent. They are known to be flexible, yet cynical. They are more ethnically diverse than their elders and tend to be more liberal regarding social issues.

Technologically, this group is the first generation to grow up with personal computers. Also labeled the “latchkey” generation, many grew up unsupervised after school as both parents worked outside the home. Perhaps that is why they are said to be so independent.

Another title for Gen Xs is the “in-between” generation, sandwiched between Millenials and Boomers. Apparently, this generation may be the first to be less prepared for retirement than their parents as their finances were affected by the dotcom (technology) bust in the late 90s, the 2008 financial crisis, and the subsequent recession.

Gen Y or Millenials

My two oldest sons are Millenials or Gen Ys. Although just five years separate the youngest of these two from their baby (gen Z) brother, I do recognize and agree with (most of) the generalizations within their respective cohorts.

Most Gen Ys or Millenials are self confident and ambitious, with high (sometimes too high) expectations, relying on rising up the ladder of employment quickly. If that doesn’t happen to their satisfaction, they are quick to move on.

Gen Ys strive for flexible work hours and know how to establish a good work/life balance. Opportunites for further development, company benefits, and great co-workers are important considerations when job seeking. They are comfortable in the digital world and make it work for them.

Gen Z or Zoomers

Gen Zs have never experienced days not immersed in technology. Technological advances such as the internet, social media, and cell phones rule their world. Digitally, they are well (globally) connected, often called the iGeneration.

Career goals are based on achieving a secure personal life. Most of them are well aware of the fact that their social and communication skills are deficient, and recognize the struggle to maintain successful and lasting personal relationships.

Their birth years are marked by the onset of climate change or global warning, the energy crisis, and a global economic slide. Most cannot afford to buy a home. That sounds so dismal.

The good news for gen Zs?

According to the Guardian, Gen Zs or post-Millenials:

drink less, take far fewer drugs, and have made teenage pregnancy a near anomaly.

the Guardian

Why the Disrespect Between Generation Labels?

Generally, when one group of people is compared to another, a sense of superiority, as well as insecurities, ensue. Sports teams, political groups, and now generations are all guilty. Social media just takes it to a whole new level with memes (funny cartoon-like expressions spread via the internet) like “OK Boomer.”

“Ok, Boomer” has become Zoomer’s dismissive, eye-roll response to older people (Boomers), who just don’t get it. It’s Zoomer’s (and maybe the Millennials’) way of releasing their frustrations on a previous generation who doesn’t see the world and what’s wrong with it as they do.

Karen McCullough.com

Considering the younger generations are reportedly more inclusive than their elders, is it not sad that they cannot accept contributions to society made by each generation? Of course, the same applies the other way around. The older generations can learn so much from their younger counterparts. Inclusivity, acceptance, technology, and more!

Who is Next? Generation Alpha

According to AIHR (Academy to Innovate HR),

by 2025, Generation Alpha is expected to be the wealthiest, most educated and technologically literate generation in history.

AIHR

Wow, no pressure there. Although after seeing how quickly my now nine-year-old granddaughter adapted to online learning during the pandemic, I’m not surprised! She is at the eldest edge of the Alpha cohort with her siblings and cousins (the ones that are also my grandchildren) right behind her.

photo credit: pexels-photo-3845458.

Type Three Diabetes: Memory Loss

type three diabetes

Have you heard of type three diabetes? I had not until I was recently researching the effects of food consumption on memory decline and loss. Apparently, sugar has now been implicated in dementia, not just diabetes and heart disease. If you or someone you love is plagued with memory loss and/or subtle speech impairment such as mispronouncing or forgetting words, read on!

The Evolution of Sugar

Way back, humans used taste as a defense mechanism, in fact, animals still do. Sweet-tasting plants, berries etc meant they were healthy, ripe, and edible while sour or bitter food sources often meant they were poisonous.

Sugar is necessary in our diets for brain function as glucose (sugar) provides the fuel for energy. The problem is, we only need twenty-four grams, or six teaspoons, daily for optimal brain function. Most people consume much more than that!

Our food has changed dramatically over the last few decades with sugar added to enhance the taste of most packaged items. With busier lives, and convenience a priority, we tend to purchase and consume more of these sugar-laden packaged foods, instead of opting for fresh, sugar-free produce.

Brains Hoard Excess Sugar

Anything more than that six teaspoons daily is literally hoarded in the brain in the form of a crystalized sugar coating on our neurons. Neurons are the nerve cells in the brain. This coating causes the neurons to become brittle so they cannot function properly, creating irritability and brain fog. Long-term overconsumption leads to memory loss. For this reason, dementia is now referred to as type three diabetes.

Foods to Avoid

Unfortunately, neurons are the only cells that cannot regenerate but they can be repaired with a better, sugar-reduced diet. This list from the college of naturopathic medicine (CNM) tells you which foods to avoid to reverse or prevent type three diabetes:

  • Refined carbohydrates including pasta, bread, pastries, pizza, pies, cakes due to their high sugar content. Wholemeal carbohydrates (wholemeal pasta, bread) can be eaten in small amounts.
  • Snacks (including those marketed as healthy) such as chips, chocolate, and cakes. Granola/energy/protein bars, crackers, and pretzels are high in sugar and damaged oils which are not good for brain health.
  • Artificial sweeteners (especially aspartame) as they are made with chemicals and ingredients such as phenylalanine that have been linked to behavioral and cognitive issues. Phenylalanine is able to cross the blood-brain barrier and disrupt neurotransmitter production (these are the chemical messengers used by the nervous system). 
  • Sugary drinks including juices, fizzy drinks, energy drinks, and sports drinks. They all contain huge amounts of sugar which is detrimental for brain health as it causes inflammation in the brain which contributes to memory loss. Another ingredient in many of these drinks is a sweetener called high-fructose corn syrup. The body does not metabolize fructose well so consuming large amounts of it can lead to diabetes, insulin resistance, high blood pressure, and obesity, all of which can increase your risk of dementia. Instead, drink filtered water, with lemon or cucumber to give it more taste. Avoid sparkling water as it can negatively impact digestion, bone health, and teeth due to its acidity.
  • High-sugar fruits such as mangoes, lychees, passionfruit, and cherries should only be eaten in small amounts. It’s much better to stick to low-sugar fruits including strawberries, blueberries, raspberries, kiwi fruit, and grapefruit.
  • Hydrogenated oils (also known as trans fats) are a type of unsaturated fat found in refined vegetable oils (such as rapeseed oil), margarine, baked products (muffins, pizza, cookies, cakes, pastries, doughnuts, sausage rolls), microwave popcorn, shortening, fried foods (fries, hamburgers, battered fish), coffee creamers, chips, and crackers. Trans fats are linked to cognitive decline and reduced memory. They can also increase your risk of Alzheimer’s disease.
  • Ready-made meals and packaged/ processed foods including sauces and condiments, instant noodles, pizzas, deli meats and hams, savoury snacks, breakfast cereals, baked beans, spaghetti hoops, and tinned soups. These foods are high in sugar and salt, and often contain hydrogenated oils; all of which negatively affect brain health. Processed foods reduce the production of a brain-derived molecule called neurotrophic factor (BDNF) which is responsible for long-term memory, learning, and the growth of new brain cells.
  • Pasteurized dairy products including milk, yogurt, and cheese can negatively affect the gut (and therefore brain health) as dairy is both acidic and inflammatory.
  • Certain types of fish including tuna, shark, swordfish, and king mackerel as they contain high levels of mercury which is a heavy metal. Mercury accumulates in the body and gets stored in the brain, liver, and kidneys. In pregnant women, mercury accumulates in the placenta and fetus. It is a neurotoxin that causes havoc to the central nervous system and damage to the brain.
  • Alcohol is very inflammatory and causes certain metabolic changes in the body. When drunk in large amounts, alcohol can damage the nerve cells of the brain (neurons), making it difficult for brain cells to communicate. This can lead to memory loss and issues with eyesight and balance.
  • Coffee is a nervous system stimulant that triggers the stress response in the body. It can surge adrenaline and cortisol production which increases heart rate and blood pressure, and the release of glucose (sugar) into the bloodstream. Drinking coffee can interrupt sleep, negatively affect blood sugar levels and contribute to anxiety. Try a coffee alternative such as chicory root coffee (caffeine-free), turmeric latte, or ginger tea.

Foods to Consume

The CNM also recommends the following brain-boosting herbs:

  • Gingko biloba. …
  • Gotu kola. …
  • Bacopa monnieri.
  • Rosemary. …
  • Cayenne pepper.

A probiotic diet has been shown to clean out the sugar crystals that coat neurons in the brain. That’s due to the important connection between the brain and the gut which are connected by the vagus nerve running from the brain through the gastrointestinal system to the adrenal glands. In other words, a healthy gut means a healthy brain. Probiotics improve the health of your gut; just be sure to research the type of probiotic you use as many are destroyed by the acid in our stomachs. There are supplements available that dissolve in your mouth instead.

Probiotics such as Kimchi or Korean cabbage have been said to regulate sugar in the brain due to that important connection above. According to Healthline, other common probiotic foods include yogurt, sauerkraut, miso, (a salty, Japanese seasoning made from fermented soybeans), kombucha (fermented green or black tea), pickles fermented in salt (but not made with vinegar), traditional (but not cultured) buttermilk, and some types of cheese, mainly gouda, mozzarella, and cheddar.

Also from CNM, is this list of foods to eat to improve brain function including memory and concentration:

  • Blueberries are high in polyphenols which are beneficial for gut bacteria and cognitive function.
  • Broccoli neutralizes carcinogenic toxins in the body and helps lower the risk of neurodegenerative diseases such as Alzheimer’s and Parkinson’s disease.
  • Leafy greens (kale, spinach, rocket) are rich in essential B vitamins, vitamins E and K, and an abundance of minerals that support brain health and improve memory and focus.
  • Pumpkin seeds and sunflower seeds contain antioxidants and minerals including magnesium, zinc, iron, and copper to protect the brain from free radical damage. Sunflower seeds are also rich in thiamine (B1), an important vitamin for memory and cognition.
  • Brazil nuts contain anti-inflammatory properties to protect the brain from damage. They are also high in selenium which is needed for brain signaling pathways.
    *Nuts and seeds are best soaked overnight for at least 7 hours as it activates enzymes within the nuts and seeds to aid absorption and enable better digestion. Discard the water afterward.
  • Food high in omega-3 fatty acids such as chia seeds, flaxseeds, walnuts, and small oily fish like sardines or mackerel. Omega-3 is essential for brain health as it enables brain cells to communicate better, reduces inflammation and aids cognitive development in children, and improved memory in adults.
  • Bananas are rich in tryptophan which converts to serotonin in the body to help support healthy gut function and mood.
  • Turmeric contains curcumin, a powerful compound with anti-inflammatory and antioxidant properties which has shown to cross the blood-brain barrier to help brain cells grow, reduce mental decline, and improve memory and mood.
  • Whole grains including oats, quinoa, buckwheat, barley, and millet contain an abundance of B vitamins and other minerals to reduce inflammation in the brain and improve cognitive function.
  • Beans and pulses (lentils, chickpeas, kidney beans) are high in fiber, B vitamins, and omega-3. They provide a steady supply of fuel (glucose) to the brain which aids concentration and memory.
  • Coconut oil, 20g per day, improves memory, and cognitive performance (even Alzheimers) due to medium chain triglycerides, fatty acids that fuel the brain with energy.
type three diabetes

Tips to Improve Memory

Research has suggested that if you clench your right hand when learning a new fact (like someone’s name), later you can clench your left hand to remember the fact (name) Huh, I will have to try that.

Conclusions

If you suffer from sugar cravings, your body is probably already hoarding sugar. Start paying attention to the added sugar you are consuming and try to reduce it.

Cleansing of the neurons may take up to six months but if you are already noticing the early signs of memory loss, or speech impairment (type three diabetes) don’t hesitate to change your habits.

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