Saturday, August 27, 2022

Student Debt Forgiveness Will Cost Billions to Taxpayers But Universities Will Have No Skin In the Game


Once again the Biden Administration is like the three monkeys
Who see no evil, hear no evil or speak no evil of taxpayer cost now student debt forgiveness is on a path a bit bumpy
For 4 days the Biden Administration is being asked what to the taxpayers will be the cost
How much of the vaunted debt reduction due to the Inflation Reduction Act will be lost
Only the sounds of silence or nonsensical remarks that we can’t the cost compute
Because we do not know how many the debt forgiveness will refute
Some estimates are already in and the cost is looking like more to $300-450+ billion cost
So much for the Biden rants of the Inflation Reduction Act deficit reduction that will be lost
Worse the forgiveness will be like kicking the can down the road
Even if all the student debt were forgiven in 5 years we would be facing the same debt load
Colleges will be encouraged to tuition, fees and room and board above inflation raise

Charging more for many degrees worth less in earning a living merits no praise
Given the size of universities endowment built up over the years
Voices urging that on debt forgiveness universities should have skin in the game are starting to appear
We must reduce the costs of college growing faster than the rate of inflation
Or face from future students and their parents just condemnation

© August 27, 2022 The Alaskanpoet

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