What a twit this woman truly is. Not too surprising ... her idiocy is being published in Newsweek magazine.
http://www.newsweek.com/student-debt-biden-wipe-out-1563808
On Wednesday, President Joe Biden's first day in office, one hundred people calling themselves the Biden Jubilee 100 declared themselves to be on a student debt strike. They represent a growing movement of debtors who are demanding that the new administration take bold action to cancel all student loans during its first one hundred days. They also represent the estimated 45 million people in this country who hold a combined $1.7 trillion in student debt.
There's a broad consensus that student debt has reached crisis proportions in this country. In 2012, when Joe Biden was Vice President, student debt surpassed $1 trillion dollars. If President Biden doesn't do something, student debt will surpass $2 trillion on his watch.
Skyrocketing tuition costs coupled with diminished federal and state funding have caused the nation's balance sheet to explode. While students from rich families graduate debt-free because their parents have the means to pay up front, most people have to borrow. Because of interest, working people wind up paying far more than their wealthy counterparts for equivalent degrees.
Fortunately, this is a problem President Biden can solve, without going through Congress. The 1965 Higher Education Act granted the executive branch the authority to "compromise and settle" student debt. That means that President Biden has the power to direct the Secretary of Education to wipe out all federal student debt (an authority Trump put to the test when he suspended student loans payments because of the pandemic).
Some might think the Biden Jubilee 100 are making a radical demand. They are not. Cancelling all student debt is actually a step toward restoring the status quo and returning to the principles the American public university system was founded on. Not that long ago, college was much more affordable or even free. That arrangement helped build the American middle class by educating this country's workforce and citizenry without burying households in unpayable debt. All the Biden Jubilee 100 are asking for is parity. They deserve the same chance as previous generations to attend college without having to mortgage their futures and destroy their credit scores. ...
There are a whole ton of everyday working Americans (not your "rich families") who have either paid for their kids' college educations directly or paid off their student loans. So, what about us, eh? Why do you and other current student loan debtors deserve to be bailed out by the federal government, when we have already made the personal sacrifices to pay off those substantial sums, huh? No, dearie ... no one forced you to go into debt ... you owe it ... you pay it back, just like everyone else.
"Returning to the principles the American public university system was founded on"? ROTFLMAO! Those principles were subverted by the very federal government you rely on to be your sugar daddy. American universities didn't turn into the corrupt, flagrantly out of control racketeers that they've been for the past many decades without their willing partner in crime - the bankrupt federal government, you naive idiot. It is the very student loan program subsidized and controlled by the federal government that heavily influenced American universities to become the robber barons they are today! Hey ... low interest rate loans convinced the gullible and the robber barons of higher education that the price of a college degree could always be increased - even if the education that was provided wasn't worth even a tenth of the price. THAT is exactly why, all along, one needed to be careful and thoughtful about the institution and the chosen degree plan - and the price you were willing to pay for it. But, a LOT of people were willfully STUPID and paid BIG BUCKS for degrees that are nothing but complete scams - gender studies and racial studies come immediately to mind.
Hell no, you silly crybaby ... I paid dearly for my kids' college educations (engineering and supply chain management) and I am NOT interested in being forced to pay for yours. The federal government is already a bankrupt institution and any private lenders shouldn't be forced to take the hit for your foolish decisions. If you want help with your student loan balances, get the money from the trillions in endowment funds the higher education robber barons have accumulated from their ill-gotten gains - or better yet, suck it up and pay your bills.
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