Staff Reports
In an attempt to win votes for the upcoming election and go against the Supreme Court, President Joe Biden has once again pushed for student loan debt reallocation. This time, the plan includes canceling debt for over 30 million borrowers, including eliminating excessive interest, forgiving debt for eligible borrowers who haven’t applied for forgiveness, and erasing debt for those who started repaying over 20 years ago. It seems like President Biden is trying to play Santa Claus by giving out freebies left and right.
The White House proudly boasted about the historic action of approving debt cancellation for 4 million borrowers so far. They claim that this “helps these borrowers get more breathing room in their daily lives, access economic mobility, buy homes, start businesses, and pursue their dreams.” Is this the government’s responsibility, or should individuals take ownership of their own financial decisions?
I said I wouldn't back down from using every tool at our disposal to get student loan borrowers the relief they need.
That's why today we're announcing new plans that, if implemented, would cancel student debt for millions more. pic.twitter.com/rNiCxzzlU3
— President Biden (@POTUS) April 8, 2024
Education Secretary Miguel Cardona shamelessly bragged about circumventing the Supreme Court ruling from June 2023, which stated that President Biden doesn’t have the authority to reallocate debt. Sounds like they are pretty thrilled about finding a loophole. Maybe they should spend more time focusing on real solutions instead of trying to outsmart the highest court in the land.
As the government continues to meddle in college affairs and dish out bailouts, the cost of college skyrockets with no end in sight. There’s no real effort to incentivize universities to lower their tuition costs. It’s like the government is throwing money into a black hole and expecting things to magically get better. It’s time for our leaders to wake up and smell the overpriced coffee of higher education.
