Student Loan Forgiveness Yikes or not?

“Biden argues that the government shouldn’t forgive debt for people who went to “Harvard and Yale and Penn” — and he’s also indicated that he believes Congress should make changes through legislation, which would make them harder to undo.”

Well, President Biden and I agree on that point.

In my view if you are smart enough to go to college then you are smart enough to pay your debts. Even if you dropped out.

Biden wants a limitation of $10,000 and the uber-liberals like Sanders, Warren, and Schumer want to make it $50,000! Yikes! What is wrong with them? This sucking up to the college vote, well, it just sucks!

I wish this buying of American votes would go away but it is not likely to happen.

And in any event, isn’t this loan forgiveness simply a way to replace the money that banks loaned out and are now at risk of default?

The latest student loan debt statistics for 2020 show how serious the student loan debt crisis has become for borrowers across all demographics and age groups. There are 45 million borrowers who collectively owe nearly $1.6 trillion in student loan debt in the U.S. Student loan debt is now the second highest consumer debt category – behind only mortgage debt – and higher than both credit cards and auto loans. The average student loan debt for members of the Class of 2018 is $29,200, a 2% increase from the prior year, according to the Institute for College Access and Success.

That’s a lot of moolah coolah.

Send a note to all your congressman to stop college loan forgiveness.