Student Loans: A Silent Scandal No More
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Student loans, long a non-issue that ruined countless lives, have finally become a political flashpoint in the conflict between progressive and moderate Democrats. Yielding to lefties’ pressure after Joe Manchin torpedoed Build Back Better, President Biden has extended Trump’s pandemic relief to 43 million federal borrowers by pausing payments another three months, to May 1. The issue isn’t going away. 62% of Democratic and 57% of Republican voters aged 18 to 29 told a Harvard Institute of Politics poll that student loan debt is a major problem—a problem they think about when they pay their bills every month. Left-leaning lawmakers want to go far beyond Biden’s stop-gap extension as well as his long-forgotten campaign promise to cancel $10,000 of debt per borrower. (The average ex-student owes $37,000 in federal loans.) Chuck Schumer, Elizabeth Warren and Ayanna Pressley propose to wipe out $50,000 each; Bernie Sanders and Alexandria Ocasio-Cortez want to forgive all $1.7 trillion. A bill proposed by Republican…
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