5 Reasons Why Student Loan Forgiveness Is A Bad Idea

Sen. Roy Blunt (R-MO), the top Republican on the Senate Appropriations

Subcommittee on Labor, Health and Human Services, delivered a detailed

speech on why wide-scale student loan forgiveness is bad policy. Among his arguments:

First, Blunt notes that more than 80% of Americans don’t have student loans.

Student loan forgiveness disproportionately benefits wealthier Americans

2. Biden doesn’t have the legal authority to cancel student loans

3. Biden has shown no commitment to wide-scale student loan forgiveness

4. Biden should lower inflation rather than cancel student loans, which can increase inflation

5. Student loan forgiveness won’t lower the cost of college