Undeterred by the Supreme Court's rejection of his scheme to shift the cost of student loans from those who incurred them to those who did not, President Biden announced on Monday a new proposal.
Despite SCOTUS ruling, Uncle Joe’s student loan scheme making a comebackUndeterred by the Supreme Court’s rejection of his previous scheme to shift the cost of student loans from those who incurred them to those who did not, President Biden announced on Monday that he is preparing a proposal — appropriately scheduled to be unveiled during campaign season later this fall — that would once again shift costs from the relatively well-off and those educated beyond their intelligence to the thrifty...
For contextual purposes, about 46 million Americans owe about $1.75 trillion in student loans. That’s about $700 billion more than Americans owe in credit card debt, but it is much less than the $20 trillion or so in mortgage debt that Americans hold. About 55% of students went into some debt to pay for college, and the average debt is about $28,000.
That’s precisely why there has been and will be no legislated amnesty of forgiveness; the majority of voters know that it is their ox that is being gored.
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