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Why You’re Wrong About Biden’s Student Debt Executive Order
The problem won’t be solved by putting American politicians in a Lose/Lose situation…
President Biden’s decision to forgive student loan debt of up to $10,000 (or, for those without Pell Grants, $20,000) for college borrowers earning less than $125,000 annually has made waves, both positive and negative.
Many Americans feel it’s an important step in the right direction; several others applaud the spirit behind it, but believe it doesn’t nearly go far enough. And yet others view it as a political ploy to buy the affection of college-educated voters ahead of the midterms. This third group classifies it as patently unfair to those who’ve already paid off their student loans in full.
Let me just start off by saying I’m not a fan of Joe Biden, especially when it comes to his personality and his worldview. However, when his actions are beneficial, I’m still going to give him due credit.
Additionally, I just finished paying off my own student loans last year. They totaled upwards of $20,000 when I first took them out. Upon completion of paying them off, they’d ballooned to nearly $30,000 over the course of thirteen years (due to accrued interest via the Income-Based Repayment plan).
