17 state attorneys general call for canceling $50K in student loan debt


We are no fans of student debt, we consider it a new form of slavery devised by the crony system, but making taxpayers pay for the debt of relatively well-to-do college students and ex-students without radically rethinking the current system (which mainly benefits schools) makes little sense. The easy to obtain debt has greatly inflated the price of college. This is the core problem.

(From The Hill)

The Democratic attorneys general, led by New York Attorney General Letitia James and Massachusetts Attorney General Maura Healey, sent a letter to congressional leaders on Friday supporting resolutions that call on President Biden to use executive action to forgive outstanding student loans.

“The existing repayment system for Federal student loans provides insufficient opportunity for struggling borrowers to manage their debts or recover from the current economic crisis,” the attorneys general wrote.

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Author: Nick Sorrentino

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