To The Herald-Whig:
Sometimes things happen that are so horribly wrong they demand a response. Such is the case concerning Biden’s Student Loan “forgiveness." This is just wrong.
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To The Herald-Whig:
Sometimes things happen that are so horribly wrong they demand a response. Such is the case concerning Biden’s Student Loan “forgiveness." This is just wrong.
Biden has proposed “forgiving” $10,000 of student debt for anyone making as much as $125,000 per year and forgiving $20,000 of debt for anyone with a Pell grant. The loan “forgiveness” has nothing to do with whether the individual can/can’t repay the loan. Of course, the money won’t be "forgiven,” the debt will actually be transferred to the American taxpayers. This means that taxpayers who couldn’t afford college, and who couldn’t afford college for their children, will be forced to pay for people who can/could afford college. The median household income in 2021 was $67,000. So Biden tells us that we must pay back college loans for people making roughly twice as much as the median income. Biden’s action is projected to add $300 billion to $500 billion to the national debt. The Wharton School of Business projects it will cost every taxpayer in the country $2,100.
This is a slap in the face for everyone who re-payed their student loans. It is a slap in the face for everyone who couldn’t afford college for themselves or their children. It is a slap in the face for American taxpayers.
This is just wrong.
Bill Marquart
Palmyra, Mo.
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