Some of the president’s advisers have privately raised concerns about the legality of taking executive action on the issue and the potential backlash from people who have paid off their loans, never took on debt or don’t believe the government should step in to help current borrowers. Other advisers have stressed to the president that debt forgiveness would provide an economic boost to low-income and minority borrowers, adding that the issue is popular with young voters, who Democrats will need in the coming midterm elections.
Wall Street Journal 5-4-22
I thought a college education was supposed to provide an economic boost. Forgiving student loans may be the largest attempt at vote buying in history.
I personally went to JC for an AA and then to a major college twice for bachelors degrees – all without borrowing money but all while working my tail off. One of our children got a small student loan – long paid off. The other decided to go the certificate route for software and has done fine. I would definitely not be in favor of paying off student loans when many have either already paid them off or never got them.
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