From articles in today’s WSJ (8/26):
How Colleges Will Cash In on Biden’s Student Loan Forgiveness:
Colleges have no financial incentive to ensure that their programs impart skills demanded by employers or provide a decent living. What does it matter to them if an anthropology graduate winds up working as a barista? Colleges are paid on the front end, and government is now writing off the cost on the back end.
Biden’s Student Loan Forgiveness Plan Refunds Borrowers Who Paid During Pause:
The few Americans who continued to make student loan payments during a federal pause enacted at the begin-ning of the pandemic will now be eligible for a refund.
Student Debt Forgiveness Is Biden’s Bluto Moment:
“Pouring roughly half [a] trillion dollars of gasoline on the inflationary fire that is already burning is reckless,” Jason Furman, the Obama administration’s top economist, tweeted. Americans already doubted Mr. Biden’s new climate and health law would do much to lower prices, but they’ll draw a direct line from the loan bailout to further price hikes. A CNBC poll says nearly 60% of Americans fear this handout will make inflation worse.