Student Loan Forgiveness May Not Live Up to Biden’s Claims

"Student studying" by UBC Learning Commons

After what seemed to be months of promoting Biden’s student loan forgiveness plan on every liberal media outlet under the sun, it seems the lefties may have overshot their expectations.

The plan is set to roll out soon and no one is happy.

For the past couple of days, left-leaning media have been pointing out the dozens of glaring issues with the student loan handout plan, leaving the rest of us wondering how in the hell they thought THIS was going to change the lives of Americans.

“Students” by Conor Lawless

Libs too optimistic about Biden’s “loan forgiveness” plan

Student loan forgiveness isn’t a new concept though.

It’s been discussed in both academic and political circles for well over a decade, but it only started gaining traction once “progressives” like Bernie Sanders and soon-to-be-president Joe Biden started promoting it during their 2020 campaigns.

Senator Elizabeth Warren was one of the main driving forces behind this backward ideology. She continued supporting government handouts and loan cancellations long after she’d lost her primary.

In fact, Warren may have been among the first to try and sell unsuspecting Americans on Biden’s ridiculous agenda, claiming he’ll be investing in childcare, expanding social security, and whatnot.

Here we are, over a year and a half into his presidency. All he’s got to show for it is a major border crisis, ever-growing gas prices, inflation reaching four-decade records, and a recession that’s bound to strike come 2023.

Paying back debt isn’t as hard as liberals make it out to be

Stephen Colbert also did his part in hyping up this failure of a plan, wondering why “old-fashioned Republicans” took issue with Biden’s agenda, as the majority of them align with what Republican politics pushed for back in the 1970s.

While it’s true that Biden did take us back to the 70s (economically), he didn’t do much more than that, save for redefining the meaning of the word “recession” in order to prevent one from happening during his term.

Other liberal media icons, like Whoopi Goldberg, were extremely vocal on the issue as well. The former actress/comedian was appalled that a 90-year-old woman who initially borrowed $29k for the NYU School of Law now owes well over $200k.

However, the fact still remains that a large majority of these student loans wouldn’t even exist if the young people in question decided to inform themselves properly before diving headfirst into such a huge commitment.

While it’s definitely true that banks are keen on exploiting young people ahead of college, many of these young men and women could easily opt for a college that isn’t out of state and possibly even get part-time jobs to help support their studies.

There are thousands of stories of diligent, hard-working students paying off their debt during their studies or in the first couple of years after. If we keep forgiving such huge amounts of debt, the US economy has nowhere to go except down the drain.

This article appeared in Conservative Cardinal and has been published here with permission.