President Biden announces student loan debt forgiveness for individuals making less than $125,000 per year.— The Recount (@therecount) August 24, 2022
$20,000 will be forgiven if a student went to college on a Pell grant, and $10,000 will be forgiven if a student did not receive one. pic.twitter.com/NXWTZMq5kM
“Working and middle-class Americans who chose not to go to college, or who responsibly paid off their student loans, should not be forced to pay off the loans of others,” Lindsey Burke, director of the Center for Education Policy at The Heritage Foundation, and Adam Kissel, Heritage visiting fellow for higher education, said in a joint statement.
President Joe Biden’s student loan forgiveness plan is inclusive. Even if you never attended a college course, you still have the opportunity to pay for your fellow Americans’ degrees.
Biden announced Wednesday that the Department of Education is canceling $10,000 in student loan debt for Americans earning $125,000 a year or less. Biden also announced forgiveness of up to $20,000 in student loans for Pell Grant recipients.
American taxpayers will be forced to pick up the tab for those who have earned degrees and statistically make more money on average than those who are not college graduates.
“Cancelling $10,000 in student loan debt per borrower … will cost American taxpayers hundreds of billions of dollars,” Burke and Kissel said.
Colleges and universities are also expected to raise tuition costs in light of the forgiveness plan.
On today’s edition of the “Problematic Women” podcast, we explain why Biden’s student loan forgiveness will lead to further inflation.
Also on today’s show, students at the University of Texas at Austin might want to leave a blank space on their schedule this fall for a new Taylor Swift class. The university is offering a course called “Literary Contests and Contexts-The Taylor Swift Songbook.”
Plus, three states are taking steps this week to further protect the unborn. We explain why life is worthy of protection from the moment of conception.
And as always, we crown our Problematic Woman of the Week!
Listen to the podcast below:
SRC COMMENT: Interestingly, the MSNBC analyst, @Elise_Jordan made the very relevant point that the real villain here – the overcharging under-delivering educational establishments are the ones who are now incentivized to keep charging more: “I guess what I find annoying about it is that it doesn’t address the higher education cartel. And it basically is infusing money into a higher education system that is basically just corrupt at this point.”
Original here. Reproduced with permission.