It’s Time to Rethink U.S. Student Loan Policy
In August, President Biden announced a massive student-loan forgiveness program. Estimates of the cost to taxpayers range from $300–$500 billion.1 Under the plan, Americans earning less than $125,000 annually can apply to have from $10,000 to $20,000 of debt “forgiven.”
Many leftists have predictably praised Biden for keeping his campaign promise. In a joint statement, Senators Charles Schumer and Elizabeth Warren gushed, “With the flick of a pen, President Biden has taken a giant step forward in addressing the student debt crisis.” Others, however, have noted the convenient timing of the move, calling it a political ploy to gain blue votes before the midterm elections.
is the managing editor of The Natural Family, the quarterly publication of the International Organization for the Family.Get Salvo in your inbox! This article originally appeared in Salvo, Issue #63, Winter 2022 Copyright © 2023 Salvo | www.salvomag.com https://salvomag.com/article/salvo63/default-lines