When I agreed to take out student loans for college, I did so with the understanding that they were my responsibility to pay back, and no one else’s.
In the latest move of his disastrous presidency, U.S. President Joe Biden announced on Thursday plans to waive a significant portion of federal student loans for borrowers, telling reporters during a White House event that he is “considering dealing with some debt reduction.”
“I am not considering $50,000 debt reduction, but I’m in the process of taking a hard look at whether or not there will be additional debt forgiveness, and I’ll have an answer on that in the next couple of weeks,” he said.
The statement came in response to a question about comments from Democrat Senate Majority Leader Chuck Schumer, who on Wednesday claimed the president was looking at using executive action to “cancel” up to $50,000 for borrowers.
While many of my fellow Gen Zers may think that “canceling” student debt is the greatest thing since sliced bread, it would behoove them to know that such a policy doesn’t exist. When Democrats like Biden and Schumer say they wish to cancel or forgive federal student loan debt, what they really mean is that they want to transfer the responsibility of paying back such loans from individuals who chose to attend college to those who didn’t or those who responsibly paid off their own expenses.
As of 2020, for instance, roughly 37.5 percent of Americans 25 and older have graduated from university or another institution of higher education. Under Biden’s proposal, this would mean that the roughly two-thirds of the country who individually decided not to go to college and take out student loans would be forced to subsidize those who did. Not only is such a policy completely below the belt, but it also bails out the very people Democrats complain don’t pay their fair share: the rich.
According to a study conducted by the financial lending company Earnest, “[f]uture medical professionals—a category that includes doctors, dentists, and pharmacists—can expect to take on the most debt to finance their degrees—over $190,000 in student loans.” Law school graduates and those obtaining a master’s in business administration placed second and third on the list, with each degree averaging $139,900 and $89,900 in debt respectively.
Thank you. Continue to pay your OWN bills. I have enough on my plate. If you wanted to go to college and earn a degree then you should not expect anyone to pay your way but you (and your parents). Too many people are expecting a free ride and eventually it catches up. Somehow/someway somebody is going to “foot” the bill. The middle class are being squeezed to death carrying the burden of the freeloaders and at some point the camel’s back will break.
Let’s go Hunter Brandon!
Not so fast. “The World According to Joe” says……well he needs a moment to collect his thoughts. Stand by! (Psst snowflakes, there is a movie reference in the 2nd sentence. Hint: Robin Williams)
(snicker snicker!)
WAR vets should get the FREE college !!!!