RECOMMENDED READING
The push by American progressives to have Joe Bidenâs incoming administration forgive $50,000 of student debt per borrower is deeply stupid, but at least clarifyingly so.
More polite language fails to capture the absurdity of singling out college attendees for an unprecedented $1tn transfer of wealth â equivalent to the total spent on cash welfare in the last 40 years. The top sources of US student debt are professional business and law degrees.
All the rationales offered â addressing âsystemic inequitiesâ and the âracial wealth gapâ, providing âmuch-needed economic stimulusâ, reducing ânegative health outcomesâ associated with debt â make a better case, assuming one is giving away money, for simple cash transfers to lower-income households. If âdebt forgivenessâ is the goal, why not car loans or credit card balances?
Recommended Reading
After Student-Debt Relief, America Must Move Beyond ‘College for All’
American Compass research director Wells King argues for building real alternatives to the âcollege-for-allâ education pipeline in the wake of Bidenâs misguided student loan forgiveness.
Bidenâs Student Loan Forgiveness is Wrong. Hereâs How to Handle College Debt Instead.
America has turned higher ed into a lavishly expensive sacred cow, and now weâre all footing the bill. Letâs make college debt boring again, argues Oren Cass.
Talkinâ (Policy) Shop: Financing Higher Education
On this episode of Policy in Brief, Oren Cass and Chris Griswold discuss how we should finance higher education in the U.S.
