This administration is continuing its giveaways (unreliable Chinese solar, eagle-killing wind turbines, range-limited electric vehicles and illegal immigrant welfare) with the latest scheme of student reparations. This debt cancellation will subsidize the upper classes (over-educated and under-employed college elite), ignore the lower classes (actual and reliable workers) and stick the bill, as always, with the tax-paying middle class.
The university-industrial complex has scored big time by offloading instruction duties to adjuncts and graduate teaching assistants while the higher tuition and fees, supported by federally guaranteed loans, financed an explosion of noneducational administrators and Olympic-style recreation facilities.
We cannot allow this additional unfunded liability to damage our monetary system via inflation and the “moral hazard” of legal contract suspension. No future loans should be given for any advanced degree. University endowments must co-sign every loan and accept the risk if four-year graduates can’t find employment. This scam must be…
