A councilmember in the nation’s capital has proposed a bill that would cover up to five years worth of student loans for people making below a certain amount of money. A few questions:
- Were the potential recipients of this government largess forced to go to college? No.
- Were the potential recipients of this government largess forced to attend colleges out of their price range? No.
- Were the potential recipients of this government largess forced to take out student loans? No.
- Were the potential recipients of this government largess forced to pursue degrees with insufficient remuneration? No.
- Are the potential recipients of this government largess forced to live in DC? No.
- Will the poor or lower middle class residents who had no choice but to go straight to work after high school get a monthly check for the equivalent of five years of student loan payments? No.
- Can the potential recipients of this government largess move to other communities where the cost of living is less? Yes.
- Did taxpayers already fund a good portion of the potential recipients undergraduate expenses? Probably, yes.
The student loan “crisis” in this country is a confluence of poor decisions by young adults who apparently lacked any degree of guidance or financial instruction from their parents/advisers as well as the large annual tuition increases and distortions of the market due to government funding and interference. What motive is there for universities to curtail tuition costs when they have guaranteed money coming from the government each and every year?
This is an atrocious use of taxpayer funds for people who are largely at the upper end of the socioeconomic scale already. It’s not poor people going to four year universities.
It’s not the responsibility of the taxpayers of DC to cover your student loans because your master’s degree in puppetry isn’t paying the bills.
From The Daily Caller:
Up to five years of student loan debt could be forgiven for Washington, D.C. residents, if a bill introduced Tuesday by a council member is passed.
David Grosso, an Independent D.C. council member, proposed that the city pay for five years of worth of loan payments for residents who either individually make less than $75,000 a year or, with their spouse, make less than $95,000 per year, reported The Washington Post.
“I’ve heard from teachers about how hard it is for them to make ends meet because they’re carrying this debt,” Grosso, the Education Committee chairman, told WaPo. “This is something we need to address.”
The councilman intends to manage the program’s expense by compelling participants to enlist in a government income-driven repayment plan.
“We’re making a big push for day-care workers to go back to school,” said Grosso. “I’m trying to make sure they know that we’ve got their back when they complete their education, so they can continue to live in [D.C.] regardless of the debt they might owe.”
Student loans amount to $1.3 trillion held by 44 million Americans.
Grosso previously pushed a non-binding resolution to ask the Washington Redskins, whom Grosso decried as bearing a “derogatory, racist name,” to rename the team the Washington Redtails.
The Daily Caller News Foundation reached out to the Department of Education for feedback concerning the bill, but received no comment in time for press.