Student loan debt forgiveness a 'big transfer of wealth' from poor, working class to the rich: Payne

The ever-growing 'schism between the have's and have-not's' will only expand further under Democrats' plans, host says.

President Biden and congressional Democrats pushing to transfer college graduates' student debt balance to the federal

taxpayer is a political ruse that will enrich the elites and punish the poor, Charles Payne said Sunday.

In an interview with Mark Levin, the Fox Business anchor said such student loan forgiveness is really

a wealth transfer from tradesmen, high school graduates and dropouts to the wealthier

and more privileged Americans who were able to attend expensive postsecondary schools.

It's mind-boggling. I'm telling you, this is what really blows me away: This administration is in for the elites," Payne said on "Life, Liberty & Levin."

They're for the people in this country who are already on a glide path to enjoying the most out of the America

these college grads, they make the most money, they have the lowest unemployment, they live, on average, seven to 10 years longer than high school graduates and high school dropouts.