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Biden Administration’s Student Debt Forgiveness Another So-Called Solution That Will Leave Americans Much Worse Off

Aug 24, 2022 by AFP

Arlington, Va. –The Biden Administration announced on Wednesday that it would transfer hundreds of billions of dollars from taxpayers to those with student loans, which amounts to another harmful, politically motivated policy that will push already-skyrocketing higher education costs even higher.

While student debt forgiveness may sound good on paper, the reality is that forgiving student loan debt will only cause more economic hardship for the average American. Akin to the “American Rescue Plan,” canceling student loan debt is bad policy that will only make the problem worse.

AFP Vice President of Government Affairs Akash Chougule issued the following statement:

“The Biden Administration’s plan for student loan ‘forgiveness’ is nothing but a transfer of the bill to responsible taxpayers who either already worked hard to pay off their loans or don’t have them. Worse, this shameless handout will only push education costs even higher, cause people to take out even bigger loans, and set a dangerous precedent that the government will just come along and erase their debt in the future. These are exactly the kind of big-spending, big-government policies that destroy an economy and divide Americans in the process.”

Student debt forgiveness is just another example of this administration’s long track record of pouring taxpayer dollars into a broken system under the guise of helping people but inevitably make things worse. Read more about why student debt forgiveness is a terrible idea in Akash Chougule’s op-ed published in Inside Sources, and learn how it exposes the rot in American government that can only be countered by a revitalized legislative branch willing to stand up to executive overreach.