In the photo (above) recently posted on social media, Vice President Kamala Harris is seen sitting at a table in front of a sign that reads, "Canceling Student Debt."
"Last week, the Biden-Harris administration announced an additional $7.4 billion in student loan forgiveness," the Democrats posted on X. "That brings that total to $153 billion in debt forgiven, providing relief to 4.3 million borrowers."
David McGarry, policy analyst for Taxpayers Protection Alliance, points out that the people getting "relief" will still pay for this through taxes, and the people who have paid off their loan(s) and/or opted not to go to college will have to pay the cost of other people's education choices.
"The federal government has no business walking into a contract that people voluntarily signed and walking into loan agreements that people voluntarily signed and deciding that those people don't have to fulfill their obligations," McGarry submits.
He asserts he has no problem with people who want to get an education or go to graduate school, as that is a "wonderful choice" for some people to enrich their lives and sometimes increase their earning potential.
"But that doesn't mean that it is the business of Washington, and that does not mean that it is the responsibility of the taxpayers to cover those debts later when those people regret their financial choices that they made earlier in life," the analyst adds.
Meanwhile, Elaine Parker of the Job Creators Network Foundation, an organization that sued the Biden administration in 2022 over its initial student loan relief effort, says this does nothing to hold colleges and universities accountable for what they are charging students.
She suggests there should be measurements of success on these degree programs that they are selling to students.
"This administration needs to look at how to solve the root cause of the problem instead of just throwing taxpayer dollars at student loan forgiveness does," Parker contends. "It does nothing but tell colleges that they can increase tuition far past the rate of inflation, and that doesn't solve the problem."
