Buying Votes: Student Loan Forgiveness

With just three weeks until the mid-term elections, the Biden administration is rolling out the president’s student loan forgiveness program.

Never mind that it’s probably unconstitutional and will likely be killed by the courts down the road. Biden just wants to get through the next election, pretending this is going to happen. Let the disappointed borrowers weep later.

Three things jumped out at me - in addition to the fact that the Department of Education has just joined other Biden agencies in exceeding executive powers with this move.

First, there is absolutely no incentive for current college students to stop over-borrowing for their useless gender studies degrees. If anything, forgiving loans encourages more reckless borrowing.

The program contains no requirements that colleges slash tuition, reduce the size of bloated administrations, cut fat faculty salaries or close campus lazy rivers and health clubs. All of these drive up the cost of college.

This means student loan forgiveness will become an annual event, like the pardoning of the Thanksgiving turkey. Why not? The problem of young people borrowing money they can’t repay will go on and on.

Second, the applications for this program are available in English and Spanish.

Huh?

Does this mean we’re cancelling the debt of foreign students as well as Americans? Presumably, those with college debt actually attended college. Is it possible to take part in higher education without mastering enough English to fill out a simple application?

Just more pandering for Hispanic votes.

Here’s another aspect of Biden’s largesse that does little but fuel inflation:

“Under Biden’s plan, those borrowers who continued to pay off their loans during the student loan freeze in the early stages of the pandemic are allowed to get reimbursed for payments made beginning March 13, 2020, by contacting their loan servicers to request a refund,” reports The Virginia Mercury.

In other words, borrowers who had the ability to pay back their loans and did so two years ago, will now get a cash reward. 

Why?

Because this shameless administration is trying to buy votes. That’s why.

Third, debtors can “self-attest” to their income. No documentation required. What could possibly go wrong?

And those of us who don’t have student debt - because we repaid our loans or because we didn’t go to college - are now saddled with someone else’s college debt.

Sounds like a plan concocted by our C-student president.