From the story:
Canceling $10,000 per borrower would cost around $321 billion and completely forgive the loans of about one-third of student loan borrowers.
This is all BS, of course. Millions of those borrowers can afford to pay off their loans themselves.
Student loans are another form of welfare for far too many borrowers of color, who dig themselves into a deep hole with government and education establishment encouragement and never get a degree, both of which also profit off the scheme. Meanwhile colleges continue to increase the cost of tuition knowing there is a ready source of government loan funding to pay for it.
Forgiving student loan debt without paying attention to income will inevitably be a handout to millions upon millions of high earners like Representative AOC who drives a Tesla Model 3 while reducing the average black loan balance by less than 20%.
If you make over $74k you are in the top 20% of all wage earners in the United States in 2020. You can afford to pay your obligations. AOC is in the top 4% of all wage earners.
Handing $10k in loan forgiveness to American elites isn't a vote-buying scheme. It's a Democrat patronage payment.
