Third, loan forgiveness continues to perpetuate the myth that "One's best shot-perhaps only shot-at achieving success in life is to have a college degree." These criticisms of student loan forgiveness, however true they are, ignore the political justifications for pursuing such a policy.
President Biden has tried to unilaterally implement student loan forgiveness plans due to congressional opposition.
He said, "And the Supreme Court blocked it. They blocked it. But that did not stop me. I announced we were going to pursue alternative paths for student debt relief for as many borrowers as possible." Despite the shamelessness of these actions, Biden can promote himself as a champion of student loan forgiveness to voters.
The Biden administration is fully aware that its student loan forgiveness programs will not withstand legal scrutiny by any objective measure.
The Biden Administration's student loan forgiveness program was a political ploy.
The Biden administration's actions on student loan forgiveness have been deeply corrupt for all of the reasons noted.
Unsurprisingly, Senate Minority Leader Mitch McConnell has called out the Biden administration: "Not only has the Supreme Court ruled President Biden's student loan socialism unconstitutional-the scheme is also profoundly bad policy."
https://mises.org/mises-wire/bidens-latest-vote-buying-scheme-student-loan-cancellation
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