Sunday, September 4, 2022

It's because colleges and universities is where the indoctrination takes place.

Think Biden’s student loan write-offs are unfair? Just take a look at the fine print

President Joe Biden’s plan to instantly write off up to $20,000 in individual loans is bad enough, costing the taxpayers north of $300 billion — but the rest of his idea is even worse: He wants to the public to eat most all future student debt, too.

Yes, “Part 1” is horrifically unfair: Folks who chose not to take out such loans, or got them paid off, or never went to college at all, will be picking up the tab for college-educated borrowers with excellent incomes. Yet the rest of the scheme would make this injustice permanent

Biden would roll back borrowers’ maximum monthly payment on undergrad loans to just 5% of “discretionary” income — and cut the amount of earnings considered “discretionary.” Then he’d wipe out all remaining debt after just 10 years for many borrowers.

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