During the 4th GOP presidential primary debate, Florida Gov. Ron DeSantis promised to radically reform how student loans work in America.
“Gov. Ron DeSantis said that he would change the federal student loan system to make it so that the debt is backed by universities, in a bid to make colleges more accountable and to prevent taxpayers from having to support elite educations,” according to The Wall Street Journal.
Listen to his exact words below:
I don’t support having a truck driver having to pay a student loan for someone that got a degree in gender studies. That is wrong.
When I’m President, these student loans are going to be backed by the universities because they need to have an incentive to produce gainful… pic.twitter.com/j8Mf1mcTW5
— Ron DeSantis (@RonDeSantis) December 7, 2023
“Student loans are going to be backed by universities. I don’t support having a truck driver paying a student loan that got a degree in gender studies — that’s wrong — but I’m going to get to the root cause of the problem,” he said.
His plan earned him praise from unexpected sources, including former CNN talking head Chris Cuomo.
“DeSantis gave a voice to an issue in America…that I have not heard from any of these candidates on the other side until the way he said it tonight,” Cuomo said of the governor’s plan after the debate.
Listen:
Even Fredo is praising @RonDeSantis’ debate performance.
“DeSantis gave a voice to an issue in America…that I have not heard from any of these candidates on the other side until the way he said it tonight,” Cuomo said about DeSantis’ promise to put universities on the hook for… pic.twitter.com/SEkl35HOn5
— DeSantis War Room (@DeSantisWarRoom) December 7, 2023
DeSantis’ plan was likely inspired by President Joe Biden’s unconstitutional decision this week to forgive an additional $4.8 billion student debt.
“President Joe Biden moved to forgive $4.8 billion in student loans Wednesday, providing relief to more than 80,000 borrowers including public sector employees and Americans who have been repaying their federal debts for decades,” Bloomberg reported.
“The move implements regulatory changes taken by the administration to expand access to existing programs. Under new rules, the US wiped out $2.6 billion in loans for more than 34,000 federal, state, local, and nonprofit employees, including teachers and members of the military,” according to Bloomberg.
The problem with this forgiveness of loans is that it’s coming from taxpayer funds collected from working-class Americans. Also, the forgiveness of student loans is being applied regardless of the borrower’s chosen major.
This means that the truck driver, as mentioned by DeSantis, is being forced to pay back the student loans of people who attended college to pursue meaningless degrees that later left them broke, unemployed, and unable to repay.
Degrees like gender studies …
Responding to the governor’s idea, members of the public were mostly receptive to it.
Look:
I LOVE this idea!!!
— Patticosh (@patticosh) December 7, 2023
Excellent idea. At minimum schools should be on the hook for 50%
— turtleman70 (@jimhorsch) December 7, 2023
I’ve been saying this for years. The way to do it is to make the colleges be the co-signers of the loans.
— Silas Dugood (@susqmusings) December 7, 2023
Like mortgages where the lender is on the hook for the first 20% and allow students to default on them in bankruptcy. Though I’d set the bar at 50% for student loans. College that accepted the $ 50% gvt 50%
— Polybius Champion (@PolybiusChamp) December 7, 2023
Short of repealing any ability for the federal government to shunt student loans onto taxpayers, forcing universities to have some skin in the game is the only solution. Otherwise we’ll continue to see an endless series of bailouts feeding higher ed’s metastasis.
— The Ivy Exile (@TheIvyExile) December 7, 2023
As for Biden’s student loan forgiveness, it’s been called “un-American” by business entrepreneur Kevin O’Leary.
“Why would one cohort of graduates in this particular time be forgiven their loan when everybody else that came before them or after them, potentially has to pay back their debt?” he asked Thursday morning on Fox News’s “Fox & Friends.”
“Forgiving debt is such a horrific idea. What about if you were in the military and you served your country, and then you went and borrowed money, 60, $80,000, and you have to pay it back and these people don’t? I mean, that’s just wrong,” he added.
“I find this [is] just something that many people are going to find offensive because it’s so unfair. Many voters won’t like it. It’ll become an issue,” he continued.
Writers and editors can be contacted at [email protected] with feedback, tips, or corrections.
V. Saxena is a staff writer with a decade of experience as a professional writer, and a lifetime of experience as an avid news junkie. He holds a degree in computer technology from Purdue University. Saxena also contributes to BizPac Review.
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