Wednesday, July 6

Tag: Debt

5 Reasons Biden’s College Loan Amnesty Is Bad Policy and Bad Politics
Politics

5 Reasons Biden’s College Loan Amnesty Is Bad Policy and Bad Politics

President Joe Biden is considering, and likely to implement, a plan to relieve student loan debt for many Americans. Recent reports suggest he will forgive $10,000 per debt-holder.Democrats are banking on this move to energize their base and motivate voters to show up at the polls in November. But this isn’t just bad policy, it’s bad politics.Here are five reasons why:1. It makes the problem worse.The biggest proponent of bailing out loans, Democratic Sen. Elizabeth Warren, often talks about how it was so much cheaper for her to go to college in the 1960s, but her solution would make things exponentially worse for the generation ahead.Universities are raising the cost of tuition to a degree that is becoming nearly unattainable without generous assistance. But bailing out student loans with...