With Student Loan ‘Forgiveness,’ the Racketeers Win Again
August 29, 2022
President Joe Biden just announced his decision to forgive student loans to the tune of $300 billion—which is, to put that number in perspective, more than the GDP of either Finland or Portugal. So far, the national conversation has focused on whether, first, the American taxpayer should be responsible for clearing privately held debts, and, second, whether the move is mostly a partisan Democratic gambit to garner votes and support leading up November’s midterm elections. However, it is colleges and universities that should be under scrutiny, because they are the reason so many graduates are deep in debt in the first place.
