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October 6, 2023
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Despite various lawsuits and court rulings affirming that President Biden not have the power to “cancel” student loan debt (i.e., transfer it from his constituents who willingly borrowed it onto the backs of taxpayers who did not), he just keeps finding loopholes to do it anyway.

The Biden White House announced Wednesday that it’s “cancelling” another $9 billion in student loan debt, which when added to what he’s already stuck the rest of us with totals $127 billion.

https://www.westernjournal.com/biden-announces-9-billion-taxpayer-funded-student-debt-cancellation/

That link has the full story, and some of the people receiving relief have a decent case, like those with permanent disabilities or who were cheated out of tuition by their schools. But none of this addresses the real problem, and that is that virtually every university is cheating students by charging outrageous tuition and fees far beyond the rate of even Biden’s inflation.

I’d like to see some reforms to help people who are staggering under the weight of student loan debt they can never repay, even if they were foolish to take it on in the first place (hint: don’t take out a $300,000 loan to get a degree that will earn you $40,000 a year.) But the other half of the problem is that universities realize that as long as government keeps covering the costs, the sky’s the limit for tuition. They charge ridiculous fees to cover paying for top name professors who seldom teach a class, facilities that resemble vacation resorts, and hundreds of overpaid administrators who do jobs like censoring conservative speech and whom the schools would be far better off without.

Between the colleges pumping up their rates, and the government giving out loans that can’t be repaid and forgiving them, they’ve created an endless cycle of tuition inflation. At some point, hopefully soon, it will crash; maybe after students realize that the socialist indoctrination they’re getting isn’t worth the money they’re being charged and won’t land them a decent job. When students finally get over the idea that they need an elite school degree to succeed and instead start getting real, affordable educations from trade schools, community and state colleges, and online classes, this vicious cycle will end.

FYI: All the classes taught at MIT are on YouTube now for free: https://www.youtube.com/@mitocw

Related: The least surprising news of the day…

https://nypost.com/2023/10/04/new-york-city-private-schools-owned-by-chinese-communist-party-boss/

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Comments 1-1 of 1

  • Sharon Faulkner

    10/06/2023 03:18 PM

    Mike
    Of course he does. What with so called Lawyers telling him to ignore the law, the Constitution and the Supreme court why wouldn't he?
    We didn't elect Bozo and he will get in with another fake election next year. Big deal.
    I am glad I am on disability and don't pay taxes.