Biden Student-Loan Transfer Plan: Republican Must Stop It

Last week, President Biden told congressional Democrats that he plans to absolve millions of student-loan borrowers of their debts. Biden and the Democrats have labeled this debt plan “cancellation” or “forgiveness,” but this is nonsense. This illegal and unwise plan would “cancel” nothing. It would only transfer debt from borrowers to taxpayers and redistribute wealth from the responsible to the privileged.

As a candidate, Biden wildly pledged to cancel $10,000 in student debt per borrower, a move that would cost the American taxpayer over $300 billion. The Democratic leader in the Senate, Chuck Schumer, supports an even more aggressive plan to cancel up to $50,000 in student-loan debt for every single borrower. These unfair policies betray the public trust and don’t address the real problems with our education system.

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Tom Cotton

Tom Cotton represents Arkansas in the U.S. Senate.

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Last week, President Biden told congressional Democrats that he plans to absolve millions of student-loan borrowers of their debts. Biden and the Democrats have labeled this debt plan “cancellation” or “forgiveness,” but this is nonsense. This illegal and unwise plan would “cancel” nothing. It would only transfer debt from borrowers to taxpayers and redistribute wealth from the responsible to the privileged.

As a candidate, Biden wildly pledged to cancel $10,000 in student debt per borrower, a move that would cost the American taxpayer over $300 billion. The Democratic leader in the Senate, Chuck Schumer, supports an even more aggressive plan to cancel up to $50,000 in student-loan debt for every single borrower. These unfair policies betray the public trust and don’t address the real problems with our education system.