Former Education Secretary Betsy DeVos, who served in the Trump administration, has come out and made it clear that she is not at all in favor of student loan forgiveness during an interview she conducted on Tuesday.
Let’s just say that what she discussed concerning the whole idea is a dose of reality that the radical leftists in this country who feel they are entitled to free stuff and should have their college education paid for by the hard-working taxpayers in this country need to hear.
No, it isn’t. In fact, it’s going to add more problems because it’s going to require more spending at the federal level, which means more funny money printed by the Federal Reserve, which results in an increase in inflation, which is already astronomical. Citizens of this country are already having a difficult time providing for their families.
Imagine if we take this course of action. Yikes.
According to a piece published by Forbes, there was a report filed in June which revealed that the total student loan debt, for both private and federal loans, is a whopping $1.75 trillion.
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“We don’t believe it’s legal” to cancel student loan debt, the former secretary of education said, just before she switched over to stating that cancellation of this debt not being “fair” for “two out of three Americans” who did not go to college.
DeVos then stated taking this course of action would essentially be like a “payout” or “attempted vote-getter for the Democrats.”
“It doesn’t address the problem at all,” DeVos went on to say. “Tomorrow, you’re going to have more students taking out new loans. This is an issue that Congress and the executive branch have to get serious about … when they federalized student lending in 2010, the cost of education skyrocketed … forgiving student debt is not going to solve the problem for anyone.”
College these days is sort of a big racket. Since the government got involved in dolling out loans for folks to attend universities, they lowered the qualifications for eligibility, making it easier for people to be approved for the cash they need for classes.
However, since everyone under the sun can now afford to go to school, the marketplace has become flooded with people, making things more competitive. There are now a lot of college graduates who can’t find a job and those loans are coming due.
They can’t pay them. The loans default. The bubble bursts. That’s not bad. It’s horrible. Absolutely horrible.
There’s no such thing as a free lunch, ladies and gentlemen. Someone always picks up the tab.
If a person is going to attend school, they need to take personal responsibility for the money they owe and pay it themselves. Choose a major in a field where there are actual jobs available instead of dumb subjects like feminist studies or something like that.
Here’s to hoping wisdom prevails.