Biden's New Student Loan Forgiveness Plan Helps Mostly People Who Don't Need It
Biden's plan to forgive nearly $300 billion in student loan debt will disproportionately help affluent Americans.
Biden's plan to forgive nearly $300 billion in student loan debt will disproportionately help affluent Americans.
"Student loan relief would lead some people to spend more," warns Obama economic advisor and Harvard economist Jason Furman
Unsurprisingly, wealthier Americans will be the prime beneficiaries of the White House's soon-to-be-announced student loan forgiveness scheme.
A new report from the Government Accountability Office found that the Federal Student Loan Program will cost over $300 billion more than originally predicted.
Instead of attacking the student debt crisis at its source, the Biden administration is throwing money at the problem.
The Department of Education continues to forgive federal debt for attendees of shuttered for-profit schools.
Biden wants to forgive $10,000 in federal loan debt per borrower, regardless of whether they need it.
Listen to an Intelligence Squared US debate featuring Nick Gillespie.
The Biden Administration will push student loan repayment until late summer.
Federal subsidies for higher education lead to market distortions that affect financially needy students.
We need more alternative paths to education and employment.
Biden is using executive authority to write off debts for some borrowers, while a Bush-era law could have even bigger implications.
Thirty-five years after Bill Bennett sounded the alarm about student loan defaults, we still haven't learned a damn thing.
"The push for college came at the expense of every other form of education," says Mike Rowe.
This is a subsidy for the schools, not the students.
Education Department says its goal is to make sure borrowers in default get their tax refunds.
Despite Elizabeth Warren's contention that it is the "single most effective economic stimulus that is available through executive action," forgiving student debt is a bad idea.
Secretary of Education Betsy DeVos on schooling during COVID-19, the future of higher ed, and why her cabinet department probably shouldn't exist at all
Her plan isn't perfect, but she's right that the system is broken. Congress should act to fix it.
Dramatic increases in federal spending will not “unlock access” for the poor. It will only help those with the right connections.
There is a better solution than the ones politicians offer.
When Britain reversed its free college program and asked its citizens to foot a portion of their college bill, more working class people got degrees.
Her proposal is supposed to chip away at the "opportunity gap."
The world doesn't owe you a dream college or a dream house or a dream job.
The Vermont senator is clearly trying to outdo his main progressive rival, Sen. Elizabeth Warren.
Americans are paying more than ever for car loans. Why shouldn't the government bail those out too? For the same reason eliminating student loans would be a bad idea.
The unintended consequences of helping students with the brightest futures.
Being a presidential candidate means never having to say sorry for heavy-handed proposals to limit choice and promise free stuff.
If you or your parents can afford to pay your way, you should.
The Massachusetts senator wants to spend $1.25 trillion on a plan to wipe out student loan debt and make public tuition free.
"Mayor Pete" Buttigieg is a rare and welcome exception to a trend that gives money to people who don't need it.
Former Indiana Gov. Mitch Daniels' totally insane, very practical ideas about how to fix college debt, reform entitlements, and redefine social justice
Many Americans are said to be turning against higher education. They may just be sick of an expensive and dysfunctional model that's outlived its usefulness.