This document discusses the ethics of generative AI and provides an overview of key issues and perspectives. It begins by defining generative AI and describing how it has been used in education. Three major issues are then outlined relating to the environmental and human costs of training models, ensuring the data and models are used justly and explainably, and ensuring privacy and safety when models are used. Next, it reviews several existing AI ethics frameworks and principles. It then shares a different philosophical perspective on ethics and applies different ethical lenses. Finally, it issues a warning about unchecked technological progress but also expresses hope if this moment can help usher in a new era that masters the technology for human benefit.