Biden student debt cancellation plan won’t lower college costs, labor economist says

in federal student loans for people earning less than $125,000 and couples earning less than $250,000.Advocates praise the plan as unburdening some — or all — of the debt for some federal student loan borrowers. An application for debt cancellation is scheduled to be posted on the Department of Education website by mid-October.

Akers told The Inquirer that she doesn’t think the plan is fair and that it doesn’t address college costs. Below are her observations, which have been edited for clarity and brevity.Without more systemic reform, [the government cancellation would help] some people who really did need help but we’ve also given a lot of money away to people who didn’t need the help. And we’ve exacerbated the problem for future students. Because we’ll be encouraging more borrowing.

I’d love to see us move to a system of accountability for colleges ... if you want to stay in the [federal] student loan program, you need to prove your graduates are earning money after they graduate, and they are able to pay back the loans that they’re getting through this program.What I’m proposing is, essentially, some underwriting on these loans. If you look at how mortgages are handed out, or auto loans are handed out, the lender assesses whether the loan is affordable and can be repaid.

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Biden's disappearing student loan debt forgiveness pledgePresident JoeBiden's disappearing student loan debt forgiveness pledge JoeBiden So Very Sad I JoeBiden If Joe would disappear now that would be awesome JoeBiden 𝙸 𝚌𝚊𝚗’𝚝 𝚔𝚎𝚎𝚙 𝚝𝚑𝚒𝚜 good𝚗𝚎𝚠𝚜 𝚝𝚘 𝚖𝚢𝚜𝚎𝚕𝚏 𝙸 𝚝𝚛𝚊𝚍𝚎𝚍 𝚠𝚒𝚝𝚑 𝚊 𝚕𝚒𝚝𝚝𝚕𝚎 𝚒𝚗𝚟𝚎𝚜𝚝𝚖𝚎𝚗𝚝 𝚌𝚊𝚙𝚒𝚝𝚊𝚕 𝚘𝚏 $300 𝚋𝚞𝚝 𝚝𝚘 𝚖𝚢 𝚐𝚛𝚎𝚊𝚝𝚎𝚜𝚝 𝚜𝚞𝚛𝚙𝚛𝚒𝚜𝚎 𝙸 𝚐𝚘𝚝 𝚖𝚢 𝚙𝚛𝚘𝚏𝚒𝚝𝚜 𝚘𝚏 $3𝚔 𝚊𝚕𝚕 𝚝𝚑𝚊𝚗𝚔𝚜 𝚝𝚘 ponomereko_62
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'Quiet Part Out Loud': GOP Warns Biden Student Debt Cancellation Will Hurt Military Recruitment'The GOP is admitting that the military relies on poor young people to keep the war machine going, and that's why they oppose canceling student debt,' says Our Wisconsin Revolution. OurWisconsinRev And oppose fair wages ...one idea tie wages to industry profit working Americans woukd benefit from broad growth and not worry about inflation OurWisconsinRev Yup, it's all about using the poor as cannon fodder while the rich benefit from the war machine. This has happened throughout history. OurWisconsinRev I’m sure all their entitled sons will sign up
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