Student Loan Forgiveness and Free Education
Mr. Biden said. “I am prepared to write off the $10,000 debt but not [$50,000], because I don’t think I have the authority to do it.”
Mr Biden is hedging. He knows he can do it, he just doesn’t want to, or can’t bring himself to do so. It’s a generational thing in my humble opinion.
I’ve been a fan of Professor Scott Galloway’s content since his L2 days. He’s smart and opinionated and I tend to agree with him on a lot of topics. With powerful voices like Alexandria Ocasio-Cortex advocating for free education he has been quite vocal on his opinion that this is a bad idea, primarily because he views this as a transfer of wealth to the already wealthy. His point that the children of the wealthy are the majority of children that get to go to university anyway. This thinking is overly simple and misses the big picture.
After four years of Donald Trump and the willful embrace of ignorance, vision and leadership are required for the country to begin to recover and to ensure its global competitiveness. An investment in free education makes a powerful statement as to what the country stands for, and that the opportunity education provides is there for those that want to take it, not just those who can afford it. The country must also get back to a shared sense of reality and education is critical to that.
Millions of parents would see a future college education for their children as something that is obtainable regardless of their financial situation. Denying those children that opportunity because you fear giving some well to do people another benefit is short sighted and can be addressed by taxing those people more.
The Biden administration has begun and already dialog in the country has changed. Once again the deficit is a topic of importance. The GOP suddenly transforms into deficit hawks after piling up trillions in debt with tax cuts. The talking heads ask “How can we afford this?”, “Where will the money come from?”. These voices should be ignored and the investments that prioritize the general welfare of the people, not corporations or the wealthy should be made.
Update:
It seems that the president has been sitting on this which I think underscores my perspective above. It’s not that he can’t, it’s that he won’t.
Update 2:
Fully redacted. LOL.