President Biden continues to support the predatory mortgage market and the deterioration of higher education while rolling out his most recent round of national student loan “forgiveness.” Liberals are now betting on that plan to succeed in November, but Conservatives should take advantage of it and rely on the government to finally put an end to the education scam.
On Monday, the Biden White House made a fresh round of pupil mortgage proposals that would ease the suffering of millions of consumers.
The program would target those with “runaway attention” and people who have been paying for 20 years, allowing them to count for compassion under “income driven payments programs”, the Hill reported.
Democrats are claiming victory on the issue as Biden” cancels” billions of dollars of debt, which is a” buying votes” tactic ( true ), but student loan debt is a real problem plaguing young Americans and prevents them from moving their lives forward after college, buying homes, or having children.
The White House claimed in a March report that” the president cancelled more student loans than any other administration in history,” describing how left-leaning strategists perceive this issue as having a positive impact on Americans. They’re right. ” In total, the Biden administration has forgiven$ 143.6 billion for 3.96 million borrowers”, the story said.
” ‘ I think ]student loans ] are probably one of the more impactful and consequential issues for those who may have went to college to pursue a higher education,’ said Antjuan Seawright, a Democrat strategist”, the Hill reported — and it is absolutely true.
Millions of Americans were persuaded by the student loan industry and Big Education that life could only be successful if they put up with crippling financial obligations before they were even old enough to drink a beer. This is a major issue right now, as young people struggle to save money and move forward with their futures.
Conservatives ignore it despite having the potential to reform universities in this country permanently and solve this issue much more effectively than Biden does, despite having an opportunity to improve the lives of millions of citizens who arguably took on odious debt.
There is nothing particularly “left-wing” about the Democrats ‘ student-debt pet issue, where predatory loans to pay exorbitant college fees leave students unable to form families and ill-equipped to enter the workforce, if they can even find employment.
The left simply approaches it in a way that serves their purposes, which only worsens the issue.
By forgiving student debt without ending the predatory student loan industry, Biden ensures that another significant debt forgiveness is looming on the horizon. This is done in tandem with Biden’s loan forgiveness. Because he did n’t secure the border at the same time, Reagan’s amnesty in the 1980s, which set the stage for future amnesties and endless border crises, is comparable to this.
In 1981, public four- year college tuition cost$ 2, 575 in 2021 dollars, and private four- year college tuition was$ 11, 513 in 2021 dollars, according to Education Data. In 1984, adjusted median household income was$ 53, 337, according to economic data compiled by the St. Louis Fed.
In 2021, public four- year college tuition was$ 9, 580, and private tuition was$ 33, 150, compared with a median household income of$ 67, 521.
College costs rose sharply in the late 1990s as a result of the Clinton administration’s directive to use federal funds to finance higher education. In addition to increasing student loans, President Clinton implemented government student loans, which eventually became a key source of college funding. As more money became available to borrowers, schools responded by increasing tuition.
In the meantime, society lectured teenagers that they needed a college education and that paying off the equivalent of a mortgage in debt was worthwhile. Universities that were brimming with money at the same time became breeding grounds for left-wing extremism, and they were well-funded indoctrination centers for the woke,” critical theory” ideology that permeated everyday life.
Although accepting student loans is a politically sensitive position, many Americans may be persuaded that canceling the debt is fair if the issue is resolved moving forward because so many teenagers have been deceived of the false notion that they need an expensive college degree to do anything with their lives and then preyed on by lenders to pay artificially set tuition rates.
- ” Cancel” unjustifiable debt by demanding it be paid by endowments
There are a number of ways for debt to be” cancelled,” including forcing universities to pay for losses through their massive endowments as well as the wave of government-backed loans. The excess fees ought to be treated as fraud and be returned if a university is unable to justify the rate it charged students through any deliverable. A scam as vast as the modern education system, duping millions of teenagers into paying for worthless degrees, goes beyond “buy or beware”, and universities should bear part of that responsibility.
The departments have been turned into absurd parodies, leaving students shallow and empty, and the liberal arts and social sciences have been overrun by ideologues. Even though no serious adviser would ever encourage a student to enroll in a program like “gender studies” if they want to prepare for a successful career, colleges still advertise themselves as institutions of real scholarship.
Conservatives have an opportunity to settle this obscene debt and stop it from ever rising again in this context.
- Reverse student loan debt from the elimination of federal student loan programs by combining them with block grants for public colleges.
The elimination of the federal government’s student loan programs and the cancellation of student loan debt must be related to the elimination of those programs, and public college block grants should be used to replace them.
Universities will have to streamline their departments and get rid of frivolous ones that drain resources away from the ones that actually boost academic performance due to limited resources. If money is limited, the first programs to go wo n’t be the engineering departments, which bring in corporate research grants and produce impressive and generous graduates, but much more likely the departments that do n’t do anything productive.
The best way to ruthlessly cap salaries and expenditures and impose limits on what universities can spend on is to reduce the amount of debt on young people and the supply of tax-payer funded neo-Marxist agitator factories. Further, annual support ought to be contingent on student post- graduation performance, adherence to opinion diversity, and free speech on campus.
- Treat debt as equity, make payments linked to income
For those who still need a loan to pay for college, the debt should be viewed as equity, similar to an income-sharing agreement in which payments are tied to income and are never unaffordable. Instead of making fixed payments based on the amount of money lent, creating a variable payment based on the amount the recipient makes. Making income-related plans available to everyone would be one way to eliminate outrageously high loans for Taylor Swift’s studies and make debtors more cautious about giving out money to 18-year-olds.
- Forbid universities from co-signing loans
Forcing colleges to bear some risk would be another argument for loan agreements going forward. Universities should be required to co-sign on loans, so a university loses money if too many of the income shares that went to them pay below a certain threshold.
Conservatives need to understand that the student debt issue is not a “liberal” issue, and seize the opportunity it presents by approaching it strategically.
There are many areas where conservatives can agree with the left, including Sen. Bernie Sanders ‘ (I-VT ) proposal to expand the commitment to public education to include a two-year associate degree.  , And lest anyone accuse us of embracing” socialism”, we would note that public funding of a high school diploma is not” socialism” but a necessary investment in ensuring a well- educated citizenry. A two-year associate degree today is equivalent to a high school diploma before.
Conservatives should also offer student loan relief to encourage young people’s family formation and prosperity, as well as use the opportunity to end the predatory system that brainwashes young people into radical leftist ideologues without practical skills. Or they can continue to cast ballots for Biden.
The Politics Editor at Breitbart News is Emma- Jo Morris. Email her at , [email protected] , or follow her , on , Twitter.
Rebecca Mansour is Breitbart News ‘ Senior Editor at Large. Follow her on Twitter at , @RAMansour.
