It’s starting to dawn on people just how unfair Biden’s student loan forgiveness is. From Revolver at revolver.news:
Last Wednesday, President Biden made his big announcement about how he plans to handle America’s $1.8 trillion (and growing) student loan bubble.
Biden’s plan grants $10,000 in relief for everyone with outstanding undergraduate student loans making less than $125,000, plus an additional $10,000 in relief for anyone who used a Pell Grant to attend college. The announcement cancels all remaining student loans for about 20 million people, and more than 20 million others will have at least part of their debt removed.
President Biden also extended the pause on student loan repayments, begun by Donald Trump in 2020, for another five months, but insisted this extension will be the last one and that payments will resume come 2023.
What to make of all this?
1. If you’re a responsible member of the middle class, then get f*cked.
Suppose you followed the playbook of middle-class, so-called “bourgeois” values: careful planning, responsibility, thrift. When it comes to America’s bloated college industrial complex, this creates a lot of options. Some people work a job on the side so they can attend school without taking out loans. Some people choose a cheaper or less distinguished school so they can get a scholarship, potentially hobbling their long-term career prospects for the sake of avoiding debt. Some people do a stint in the military to get G.I. Bill benefits. And of course, millions of parents save for decades to enable themselves to pay for a child’s education without them using loans.
The message of Wednesday’s development is, screw all of those suckers.