Sunday, November 22, 2020

Canceling student-loan debt makes working class subsidize elites

Canceling student-loan debt makes working class subsidize elites
"One good rule of thumb is to judge parties and politicians by their priorities. 
...Last week, a coalition of 236 progressive groups led by teachers unions called on Biden to cancel student debt on his first days in office.
  • ...Most Americans, especially most poor Americans, don’t have student debt, because most didn’t go to college in the first place.
  • Moreover, most people who did go to college have no or very little student debt. 
  • ...Despite what you may have heard about the student debt crisis, only 6 percent of borrowers owe more than $100,000. Virtually all of them borrowed so much because they attended graduate school.
...One reason teachers unions — a huge source of donations and political organizing for the Democratic Party — want loan forgiveness is that teachers and administrators can boost their pay by going back to school to get advanced degrees. 
Other municipal and federal workers — another major constituency for Democrats — have similar rules...Read all!

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