Conservatives Throw A Fit Over Biden’s Student Debt Forgiveness Plan

by | Aug 25, 2022 | Politics

President Joe Biden’s announcement Wednesday that the U.S. Department of Education would cancel $10,000 to $20,000 in student debt for millions of people was good news to many who took out federal loans to go to school. Some thought it should have gone further, given the sky-high price of a college education in the U.S. The most high-profile conservatives in the country, however, reacted with near-uniform indignation at the prospect of helping people dig out from under mountains of debt. AdvertisementBiden’s plan helps people who earn less than $125,000 per year; the White House says that 90% of relief dollars will go to people earning under $75,000 per year, targeting middle-income and low-income workers. Other measures include reducing monthly payments for undergraduate loans by half so it’s easier to make rent and cover living expenses.There is debate over whether the plan will make inflation worse, although the White House argues that it will amount to a wash when you take into account student loan payments set to resume in January.But much of the right-wing reaction to student debt forgiveness rests on the very concept of allocating public resources to middle-income people who opted for college.To Sen. Mitt Romney (R-Utah), whose wealthy parents named him after the founder of the Marriott Corporation because he was a close family friend, Biden’s plan is “unfair to those who paid their own way.” Advertisement“Sad to see what’s being done to bribe voters,” Romney said. Sad to see what’s being done to bribe the voters. Biden’s student loan forgiveness plan may win Democrats some vot …

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