On Thursday, Florida Gov. Ron DeSantis criticized President Biden’s student loan handout, stating that universities should be held accountable instead of the American taxpayer regarding student loan payments.
The idea that a truck driver should have to pay back a loan that a scholar with a Ph.D. in gender studies took out is very unfair. The Republican governor was applauded after saying, “That’s not fair, that’s not right.” He also stated that it was unfair to people who chose a different path that did not require loans.
As a result, he said, universities have benefited the most from the “exorbitant” debt taken out throughout the last generation. He said a large part of the cost increase had been devoted to expanding administrative offices without affecting education’s quality.
Rather than the American taxpayers, universities should be responsible for paying for this. It’s their fault if they produce people who go deep into debt and whose degrees are worthless, and they can’t make enough money to pay it back, DeSantis explained. There has been an incentive for them to take out more and more loans and then pay them back.
President Biden announced Wednesday that many Americans might be eligible for the Forgiveness of up to $10,000 in federal student loan debt if the Loan is held by the Department of Education and the borrower makes less than $125,000 individually or $250,000 for a family. Students who receive Pell Grants may have their burden reduced by $20,000.00 due to loan forgiveness.
DeSantis said he lacks the constitutional authority to do this. As a result, he is using emergency powers under COVID. You got your Ph.D. in gender studies five years ago, does that have anything to do with COVID? This is an abuse of power on the part of the government, and there is nothing constitutional about it.
While supporters praised the move as long overdue, critics said it would cost American taxpayers $300 billion. The average student loan debt is about $40,000.00. Regarding the total cost of the handout, the White House refuses to estimate how much it will cost.
In his remarks, DeSantis argued that Biden’s actions would exacerbate inflation. As a result, he criticized Biden’s administration for not complementing the act with meaningful reforms of universities.
Many Republicans have publicly slammed the Biden administration. Several noted that the timing of this is an attempt to buy votes for the November elections. Another vocal Republican is Kellyanne Conway. It’s unfair to welders, carpenters, hairdressers, and other people who didn’t attend college or couldn’t afford to do so, and it’s unfair to them. Furthermore, it is unfair to people who have paid off their student loans because they have made personal financial sacrifices. The whole thing is also a “farce.” They already passed something misnamed the Inflation Reduction Act, and now they’re going to increase inflation.
Larry Summers, former Secretary of State, said that the $10,000 would allow schools and universities to raise rates more. One of the most corrosive policies in recent history is the government’s guaranteeing of student loans. As a result, schools have been incentivized to charge outrageous tuition fees, causing students to rack up massive debt for often useless degrees. The banks could make giant loans without being concerned about the consequences. All these problems are exacerbated by loan “forgiveness,” which is sure to become an expectation in the future, which will cause more problems.
My son was under stress for 12 years bearing the $30,000 student loan over his head because of a tight budget from a lower middle class income. With financial success in recent years he paid off the loan of $30,000 which over the years he had already paid $30,000. The loan ultimately cost $60,000. He never defaulted or was delinquent. He’s not complaining paying back the loan he accumulated working his way thru college but felt mislead by the promise of a well paying job once he graduated. Doing it over he would have taken a different course. And now loan forgiveness to reward the over paid colleges and college degree snowflakes is criminal. Personally, I suspect a good football team is the universities attempt to placate and deflect the alumni and others from what’s really going on.
Absolutely agree! Pathetic stupidity! This entire political swamp is ruining this country. Seems like they are trying to and being successful at…having Non-Americans and Non-American desires & ideas favorably influence all the new rules/laws being enacted! Totally out of touch with the wants & desires of the USA population! Even the most liberal citizens are realizing that “this is no way to run the U.S.A. and we and the future generation will be paying for this arrogance, stupidity Marxist/Communist thinking and behavior!” I don’t know if we have gone to far already and will ever be able to recover! Seems like everything was so much better when we had a Businessman in charge, not a life long ass kissing politician! Pathetic! 🙁 🙁 :-(:-( I am soooo disgusted by every idea I hear put forth by this administration…Shame on you all!
The banks and the universities ganged up monkey style onto the students.
Those exorbitant interest charges on student loans need to now be reduced to well below SHYLOCK levels.
The PPP money that business owners received that was then “forgiven” was used for the benefit of taxpaying workers across the country who’s jobs were threatened by “GOVERNMENT” lockdowns. The “GOVERNMENT’S” promise to “forgive” those PPP loans was incentive to use that PPP money too save jobs, thus saving the “GOVERNMENT” from angry unemployed.
The student loan “forgiveness” is a straight theft from the taxpaying workers across the country.
and serves no benefit to working taxpayers or to the economy. It’s purely a DEMOCRAT vote buying scheme, paid for by taxpayers.
Governor Ron DeSantis is 1000% right & I’d like to add the word HOLE to Dan Bonginos ASS METHOD of school loan repayment plan. Haul your lazy asshole out of your parents’ basement and find 2 or 3 jobs and then work your asshole off for your own sake!!!