1 week Ago By Post Editorial Board
Can’t win voters based on your record? Then bribe ’em: That’s the point of the relentless Harris-Biden student-loan-forgiveness programs. Their latest payola: another six-month freeze on loan repayments for 8 million lucky borrowers, as part of the White House’s Saving on a Valuable Education “plan.” That comes just days after Harris-Biden canceled another $4.
5 billion in student debt, bringing the total they’ve dumped onto the public to a whopping $175 billion — nearly half the $430 billion they sought to forgive before the Supreme Court ruled it illegal. And it’s cash that comes straight from the pockets of taxpayers who opted not to attend college or take out loans and from those who’ve already repaid theirs with no federal breaks. President Biden and Veep Kamala Harris knew Congress never approved their $430 billion scheme.
Yet no sooner did the top court strike it down than they rolled out yet another forgiveness plan, the “income-driven repayment” SAVE plan. This one came with a $475 billion, 10-year price tag — $45 billion more than the last one. It, too, has faced court challenges.
On the merits, of course, there’s no justification for any mass loan forgiveness: People with college degrees tend to earn more than those without; the extra bucks usually more than cover the costs. Yet Harris and Biden are forcing workers who skipped college to avoid debt — waitresses, truck drivers, construction workers — to pick up the tab for their better-off peers. It’s Robin Hood in reverse.
The worst part? Such programs don’t make higher education more affordable; most colleges exploit the subsidies by hiking tuition and fees. No, Harris and Biden have only one reason for saddling 346 million Americans with the debt of a few million former college students: They think it’ll buy them votes. Indeed, Harris promises to enlarge the scam if she wins in November.
“I will continue our work to . . .
relieve the burden of student debt,” she vows. Voters who’ll be picking up the tab should make sure she doesn’t get the chance..
