Another Student Debt Scheme

July 22nd, 2023

Awake Goy

Commentary
After losing at the Supreme Court, President Joe Biden has floated another student debt relief scheme. Lawyers and judges will take a while to decide if this new approach passes constitutional muster, no doubt, until after the 2024 election. But while the legal gears turn—slowly as ever—the political-economic implications will emerge immediately and be the same as last time.
The last student debt relief plan would have forgiven $10,000 in outstanding debt relief to individuals below a certain income level and an additional $10,000 to Pell Grant recipients. The program would have cost the Treasury some $400 billion in lost revenue flows…. Source

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