Should Any Amount of Student Loan Debt Be Eliminated via Forgiveness or Bankruptcy?

“No President has fought harder for student debt relief than President Biden, and he’s not done yet. President Biden and Vice President Harris will not let Republican elected officials succeed in denying hardworking Americans the relief they need….

The President remains committed to providing relief to low- and middle-income borrowers. For too many Americans, a ticket to the middle-class remains out of reach because of unmanageable student loan debt. COVID-19 exacerbated that challenge – risking tens of millions of borrowers’ financial security and futures because of the economic harms brought on by a once-in-a-century pandemic.”

“The reality is we’ve had a generation of students go deep into debt and some of them end up with degrees in things like zombie studies, which are just not making a difference….

It’s wrong to say that a truck driver should have to pay off the debt of somebody who got a degree in gender studies. This is not the taxpayers that should have to do that. At the same time, I have sympathy for some of these students because I think they were sold a bill of goods. I think these universities knew that they could take all this federal loan money. And if you’re there for six years, hey that’s more money for them, right? And they do it, and they increase their administrative bloat and they didn’t make the the instruction any better…..

Student loans [for ‘successful degrees’] should be dischargeable in bankruptcy.”

“The unfortunate SCOTUS ruling striking down President Biden’s #studentloan forgiveness program was the predictable result of Biden’s failure to bring Congress together on this issue of crucial importance to young Americans.

President Biden knew his plan wouldn’t survive a legal challenge. His plan gave the appearance of action, while accomplishing nothing.

This is an issue of grave importance to our country. As President, I will galvanize public support to pressure Congress to put down their partisan positions and legislate meaningful relief to the tens of millions of Americans who are drowning in student debt.

I will also take steps to reduce education costs for students. When I was their age, a college education cost about one-seventh of what it is today. A young person could work their way through college and graduate debt-free. If we devoted even a fraction of our military budget to higher education, it could be virtually free to all (as it is in many other countries).

Funding higher education is not an entitlement program, it is an investment in America’s future, just as with infrastructure and environment. Let’s invest in America’s young people instead of in the forever wars.”

Editors’ Note: The hashtag #Kennedy24 was repeated throughout the tweet thread. ProCon removed the hashtag for text continuity.

“I am proud to announce that I am taking executive action to ensure that our wounded warriors are not saddled with mountains of student debt. They have made a sacrifice that’s so great. And they’re such incredible people. And they never complain. They never complain. That’s hundreds of millions of dollars in student debt held by our severely wounded warriors. It’s gone forever.”

Editors’ Note: Trump has expressed a CON opinion about a wider student loan forgiveness program: “Today, the Supreme Court also ruled that President Biden cannot wipe out hundreds of billions, perhaps trillions of dollars, in student loan debt, which would have been very unfair to the millions and millions of people who paid their debt through hard work and diligence, very unfair.”