Student Loan Forgiveness Has A Body That Won’t Quit

Fox’s Gutfeld says “if you want student loan forgiveness go to the schools, not us taxpayers.” Here! Here! But, don’t hold your breath, Greg, as WSJ warns in “The Forever Student Loan Emergency,” the original cave man No. 46 has again extended the repayment pause while caving in to “leftwing pressure” & with no end in sight.

Say the editors: “Merry Christmas [and Happy New Year], student loan borrowers. Taxpayers [aka you mom & dad as well as their neighbors] will have to settle for airing their grievances a la Festivus. That’s the result of the Biden Administration’s [recent] decision … to extend its payment moratorium again to May 1. Unlike its last pause through January, the Administration isn’t saying this extension is final – probably because it’s not” as the Democratic leadership in Congress keeps bucking for a sweeping loan cancellation bill. Period.

We’re not talking chump change here, as 2020’s The Cares Act “relieved borrowers from making payments on $1.6 TRILLION in federal student loans & waived interest accrual through September 2020. President Trump [btw] extended the pause through January despite no legislative authority to do so. President Biden compounded the injury to taxpayers and the separation of powers by extending it through this September” ya da ya da. To Gutfeld’s point, the colleges no longer have skin in the game since the Swamp’s takeover of the student loan program under Obama and have been upping their tuitions and having a ball upping their take. Meanwhile, the WSJ notes, the average borrower is stiffing the taxpayers $400 per month or $95 billion in interest they don’t have to pay. The poor kids have financial hardship? Undoubtedly many who have been taken advantage of by their schools do. But, the unemployment rate for degreed recipients has fallen to 2.3% & 1.1 million more were employed in November than February 2020. What’s all those stories about affluent kids using these savings to play the stock market or make down payments on pricey new homes?

Davd Soul