top of page

Couples making < 250K and singles making < 125k have had 10k of their student loans canceled...

Updated: Aug 31, 2022

One group was singled out for preferential treatment by our government; High-Income earners with advanced degrees. The hard-working blue-collar trade workers who took another educational path, those that have done the right thing, making far less while totally paying off their loans, and those future student loan borrowers who will pay back their loans get nothing. This is a horrible moral precedent.

We have not addressed the root cause of the student loan problem and that is the high cost of education. The more student loan forgiveness is given and the more money available for student loans simply gives colleges the ability to raise their tuition and associated costs to continue the upward trend of the price of college tuition. They don't have to take responsibility for making efficient, but hard decisions on how they expand and use their tuition payments as long as the student loans keep piling up. Many of these colleges have billions of dollars in their endowments which keep growing and growing and growing. They have no incentive to use some of that money to help lower the cost of the education they provide.

And that doesn't even start to address the real threat of higher inflation by flooding 400 Billion or more of free money into the economy. That is a tax on all of us and especially on the poorest among us. This is an extreme time of inflation. We have not seen a time like this since the late 1970s. So how smart an idea is this in our current economic environment?

Tell me, how is this justified?