Jennifer Schwab: President Joe Biden’s student debt relief is another blow to meritocracy and personal responsibility

4 days ago 46

The unilateral decision by President Joe Biden’s administration to forgive student loan debt may help win the presidential election come November, but it’s at a steep cost to the rest of us. The half-baked loan forgiveness program is driving a culture of student borrower irresponsibility in which debt repayment is considered optional.

Our students are worse off for it.

Forgiving student loan debt was one of Biden’s biggest 2020 campaign promises. The practicalities of the program weren’t needed. The promise of free money was enough. Young people, in turn, voted for Biden in droves; he decisively won the demographic of voters younger than 44.

Over the course of his presidency, Biden tried a number of times — and through a number of different pathways– to make good on his promise. Initially, the White House released a plan that granted roughly 43 million people the ability to get up to $20,000 of student debt forgiven. En...

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