Yeah, well, actually no. It is an incorrect usage, but it really doesn't matter.
What matters is that the idea of debt being slavery is ridiculous, and it is irresponsible to suggest that to somebody asking a serious question about their kid's future. Debt is just one way among many that people finance things they think they need. There isn't a moral component to it unless you go into debt planning not to pay it back. The calculus is financial, viz what is the cheapest cost of funds to get the greatest return.
You are confusing two completely different things.
Sure the big money boys and corporations can borrow all they want at as low prices as they wish and then when they can't pay it, they just run off to a judge, do a quickie wipe out of all their debts and continue on business as usual.
I think you probably haven't actually fully understood how the "student loan" system works and you are simply cheer leading the greedy bastards who are enslaving the youth (even if perhaps those youth kind of deserve it for being the unthinking communist morons they are).
The Government, as in the congress critters and their minions setup the program, decide the rules and how much everybody is going to make off the students.
Students are told, "well sure we sent all the jobs overseas, but not to worry, as long as you have a good enough degree you'll be able to get the better jobs... oh and if you don't you'll be a failure forever.."
These naive, bleary eyed, indoctrinated, young people swallow it hook line and sinker, and don't question why somebody would give them huge loans when they have like no credit, assets or work history. BECAUSE nobody taught them proper financial stuff, because the schools, corporations, banks and government is all in on it. It's an assembly line to produce indentured servants for the corporations and banks.
So they get their degree eventually, and find that the promise of "great jobs" isn't really there for most..
Now they get to find out the terms of the debt.
Oh, you can't EVER get rid of it, sorry none of that bankruptcy stuff for you serfs, you will pay until the day you die.
Oh, you want to work extra hard and pay it off early, sure, but you still have to pay ALL the interest on the loan for the entire term up front and then you can start paying the principal and it doesn't matter if you pay it off right away, sorry, you guaranteed us we would make the entire amount of interest... so keep paying.
Of course the same "good folks" that gulp down the "private corporation" B.S. and "Just doing their duty," stuff will be all about "well they signed the contract, so they deserve to be indentured servants for life." THAT is specifically why when society was not all about making it best for the rich, there were strict limits on contracts and unconscionable or vastly unfair contracts were ruled void.
The price of education keeps skyrocketing way past the rate of inflation thanks to these unlimited loans, so it becomes almost impossible to save for university ahead of time if you want any higher end degree. The Universities love it because it's just tons of money for them to play with or waste on "sports". Many of the big universities have large enough endowments they could offer free education forever, and still turn a yearly profit.
So in short, I would tell anyone who is thinking about doing "student loans", to really really think long and hard about if there is any way to avoid them, and if not, they need to try to do all in their power to make them as little as possible and understand the enslavement that will come their way.
The Democrats love talking loud and long about "freeing the students from their crushing debt", BUT you'll notice they don't do anything about it, because they are all in on the making money off it. BUT it makes good talking points because a large chunk of young adults would vote for the devil if he promised to wipe away their student loan debt. You'll notice Bernie promised it then... well... issues... You'll notice President House Plant made it a big centerpiece and then well... it's complicated and... bad Republicans.
Meanwhile the stupid Republicans and conservatives harp on this "well you made a contract" load of.... as their ONLY talking point and so get painted as the villains by the same politicians that setup the enslavement. The Republican Party could steal the lead, steal the message and shine a light on the greedy bastards who setup the system, and pass laws to force student loans to be the same as most other loans and reform the cost structure for education, but they are most likely also in bed with profiting from misery and have no wish to see the feed trough get empty.
