Student Loan Forgiveness

The #loanforgiveness applies to those earning less than $125,000.

Based on the IRS's (Internal Revenue Service’s) database, 2022, the top 10% of American wage earners earn $130K.

The #bidenadministration's offer burdens the folks that paid their debts, earned to make their way to fund the wage earners that hardly need the help. To clarify this is not an offer to lower strata or to the 'diversity' groups.

There is an estimated 15 -25 million students with $10K -$20K debt of which 4.7 million are in default making it a $200B - $500B burden for the #taxpayers.

Around 40% of the students enroll in colleges to seek better careers that pay more. The remainder chooses vocations of their preference or alternatively seek to educate themselves. It is also a known fact that college-educated is more secure in their jobs and earn significantly more in their lifetime than those who did not attend college - especially true in the #covid times.

In the #pandemic and its aftermath, a possible solution could have been/ should have been federal funding & budgets to reskill, upskill, further educate, vocation based training to students to make them valuable to the current needs.

Federal funds for lower-income earners are good governance. However, the present-day offer seems to burden the taxpayers to educate the wealthy. Or is plain simple vote-buying? I am sad to see that in the land of opportunities, is the #whitehouse prepared to take from the poor(er) to offer to the rich(er)! What does anti-Robinhood look like?