Biden’s Student Loan ‘Forgiveness’ Is A Cynical Abuse Of Power
The president hasn t forgiven loans, he s unilaterally broken existing contracts and transferred the responsibility of payment to taxpayers many of whom have either repaid their own student loans or never borrowed any money to begin with. Now, if you re opposed to repaying some stranger s loan, that s too bad. A new batch of IRS agents will be there to ensure that you do.
It should also be stressed that capping loan forgiveness to those making under $125,000 means absolutely nothing because most borrowers are at the beginning of their careers and have yet to enjoy the durable benefits of a college degree. The average worker with a bachelor s degree ends up making, on average, $1 million more in their careers (those with graduate degrees $2-3 million more) than a worker with a high school diploma. And yet, the Biden administration is going to compel truck drivers and clerks without college degrees to pay the loans of white-collar workers on their way to six-figure salaries.