Education officials put in place by President Donald Trump are now switching to offense, setting their sights on former President Joe Biden’s horrendous loan forgiveness program, which they revealed would be wound down over the next few weeks. Officials also leveled accusations against private universities of being “greedy” and entitled, which contributed to the current broken model for funding higher education.
Dana Perino, a host for Fox News, summed up the change in policy during an appearance on the network’s popular morning show “Fox & Friends,” saying the “gravy train is over” for all of the bureaucratic college and university departments that rely on tax dollars to provide an endless amount of money to students to meet the continually climbing tuition rates.
“Remember, it was Nancy Pelosi who said, ‘Wait a minute, Joe Biden doesn’t have the legal authority to do this,’” Perino said to her colleagues, referring to a series of legal setbacks by the former president when his executive orders were challenged in court. “They had false hopes, false promises to people.”
Perino then said that she empathizes with the plight of young people who are taking on unaffordable student loans to get an education that will enable them to get a good job.
“It doesn’t mean that the system couldn’t be changed or that the interest rate can’t be lowered, but they are going to have to pay it back,” she then stated about the borrowers.
via Trending Politics News:
Linda McMahon, the U.S. Department of Education Secretary, defended the administration’s decision this week to resume student loan collections after years of indefinite pauses. The department announced Monday it would begin reaching out to 5.3 million borrowers who are already in default as a result of the delays. Both President Biden and university administrators made “empty promises to students while pocketing their loan dollars,” McMahon wrote in an incendiary Wall Street Journal op-ed this week.
“Colleges and universities call themselves nonprofits, but for years they have profited massively off the federal subsidy of loans, hiking tuition and piling up multibillion-dollar endowments while students graduate six figures in the red,” McMahon said.
“A widely cited 2015 study found that for every dollar of increased federal caps on subsidized loans, colleges raised tuition by 60 cents,” she later added. “Many of the degree-granting programs that qualify for student loans are worthless on the job market, but colleges continue to accept students to these programs and encourage them to borrow to pay for them.”
Student loan relief first started under the first Trump administration, but was a temporary measure when the COVID pandemic first hit, however, since that time, it’s become a hot button issue in the political realm that has gone largely unaddressed, all the while the outstanding balances of most loan holders continues to rise.
McMahon blasted Biden for dangling “the carrot of loan forgiveness in front of young voters” during his 2020 campaign, even though he knew he “never had the authority to forgive student loans across the board.”
As a result, the Biden administration’s delays and subterfuge have racked up a “massive debt that is now long past due.”
“I am announcing the end of this dishonest and irresponsible policy. We will conform the department’s repayment options to federal court decisions and end the Biden-era practice of zero-interest, zero-accountability forbearances that are pushing borrowers into loan delinquency and default,” she explained. “On May 5, we will begin the process of moving roughly 1.8 million borrowers into repayment plans and restart collections of loans in default. Borrowers who don’t make payments on time will see their credit scores go down, and in some cases, their wages automatically garnished.”
“Why? Not because we want to be unkind to student borrowers. Borrowing money and failing to pay it back isn’t a victimless offense. Debt doesn’t go away; it gets transferred to others. If borrowers don’t pay their debts to the government, taxpayers do,” McMahon further elaborated.
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