In 2019 an American billionaire named Robert F. Smith. was invited to Morehouse College in Atlanta to give the commencement address. Smith, an African American businessman, spoke to the graduates of one of the nation’s most prestigious historically black colleges, and in that speech, he announced that he would pay off the student loans of the entire graduating class. That generous gift to the 400 or so graduates cost the billionaire about $40 million [dollars].
For many students other than Morehouse class of 2019, the student loan crisis remains dire. Students can graduate with an expected payment of $1000/ month, an enormous amount for most Americans who also need food, housing, and medical care. According to the Education Data Initiative,
For the 2025-26 school year, federal student loan interest rates are 6.39% for undergraduate direct subsidized and unsubsidized loans, 7.94% for graduate direct unsubsidized loans, and 8.94% for Direct Plus loans. Private student loan rates vary significantly based on creditworthiness, with lenders offering fixed or variable rates ranging from roughly 2.9% to over 17.9%.
Debt would seem to be always with us. In fact, ongoing, life-altering debt is at the heart of the parable Jesus is sharing with us today. I told our Bible Study this week that today is the first time I will ever have tackled this parable in a sermon. I just couldn’t understand it. It made no sense. The manager is in trouble for his frittering away the property of his boss, and then he reduces the debts owed to his boss, and then his boss congratulates him on the scheme? And, Jesus commends him too?
Image: George Frederick Watts (1817-1904), Mammon (or, Mammon, Dedicated to His Worshipers), (1885), Oil on Canvas, Tate Museum, London, UK. Public Domain. Image courtesy of Wikimedia Commons.
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