No reason to fear the cost of the student loan plan
Re “Act of Stolen Bravery” (September 2): Marc Thiessen, a conservative, would like readers to believe that the student debt cancellation plan is inflationary and paid for by blue-collar taxpayers who have not made money. college studies.
First, contrary to Thiessen’s partisan view, the vast majority of plan beneficiaries will be Pell Grant recipients from families earning less than $20,000 a year. These same beneficiaries come from families whose parents form the ranks of blue collar workers. Robin Hood doesn’t steal the blue-collar pool, but forces the wealthy and corporations to pay their fair share of taxes to help the poor achieve the American Dream through higher education.
Finally, contrary to Thiessen’s argument about inflation, Paul Krugman, a Nobel Prize-winning economist, reported that the total revenue of the federal student loan program in 2021 was $70 billion per year and that in a $25 trillion economy, student loan money will have a negligible impact on inflation.
Biden is not allowed to repay people’s loans
This is not student loan “debt forgiveness”, it is a transfer of student loan debt to all taxpayers. Is it really progressive, or even healthy, public policy for someone who doesn’t go to college and makes less money to pay people who go and make more?
Speaker Nancy Pelosi and the Department of Education initially said the president had no authority to “pardon” student loans; isn’t that something Congress has to vote on?
UT welcomes and encourages community dialogue on important public issues.
Biden hands out money to get votes
Re “Some are kicking themselves for paying off their loans” (September 4): A majority of college grads like me have worked two or even three jobs to pay our way to graduation. Then no one got free money like Joe Biden does to eliminate college debt.
A better plan would be to make some kind of compulsory national service to reduce his debt. Why can Democrats never consider common sense and fairness? Oh yes, it’s election time.
No one should feel cheated by this plan
Why are Republicans complaining about this program? Most are followers of Jesus. He preached about workers starting the day at an agreed price/wage. More workers came at noon, and later more workers started an hour before quitting. The first workers complained about receiving their agreed wages because the later workers received the same wages as the first. The moral: all the workers have agreed on a salary. No worker was deceived. Be happy with what you receive.
The same is true for student loans. They agreed on a price. Some have paid it back, others are still paying. If those who are still paying benefit from the forgiveness program, good for them. Nobody was deceived. Republicans give the impression that some students have been deceived.
We should be happy for these students, not unhappy. Following the teachings of Jesus will make you happy.