To his great credit learning of the appallingly bad Supreme Court decision from the MAGAt majority concerning college loans, President Biden immediately stepped up and offered an alternative that gets around the court’s decision. It is described here. What I find very interesting is that a large percentage of Americans don’t seem to appreciate or give credit to Biden and the Democrats for trying to foster wellbeing in their lives, while the MAGAts are trying to take the country back to about 1910 and destroy almost a century of social policies that foster wellbeing. When I went to the University of Virginia the tuition fee was $238 a semester, and student debt was almost unheard of. Today the average 4-year Bachelor’s degree debt from a public college is $32,714. 64% of students seeking a Bachelor’s degree from a public 4-year college have student loan debt. The average 4-year Bachelor’s degree debt from a private for-profit college is almost twice that, $59,701. Personally, I can’t imagine what it must be like to be 21 years old, just graduating, looking for a job, and facing somewhere between 33 to 60 thousand dollars in debt. I think this is one of the reasons fewer young people are going to college, which means in the near future we, as a people, will be less educated, and more easily manipulated by politicians. It is almost exactly the reverse of what America has meant and sought to be for over 200 years.
President Biden announcing his Plan B on student debt.
Following the U.S. Supreme Court’s decision to reject President Joe Biden’s student debt relief plan Friday, the president announced the “new path” he will take to attain his goal of relieving “as many borrowers as possible.”
The high court, in a 6-3 ruling, struck down the plan to cancel up to $20,000 in federal student loan debt, arguing the president “had no right to cancel that debt.”
Prior to the president’s announcement, Business Insider reports U.S. Senator Bernie Sanders (I-Vermont) said, “Today, I am urging the Biden Administration to implement a Plan B immediately to cancel student debt for tens of millions of Americans who are struggling to pay the rent, put food on the table, and pay for the basic necessities of life. Despite this legally unsound Supreme Court decision, the President has the clear authority under the Higher Education Act of 1965 to cancel student debt. He must use this authority immediately.”
Biden followed suit, announcing the “Plan B” he believes is the next […]