[Ge0ffrey]

Thanks, Obama.

[Sir_Humphrey]

I am not a fan of Obama even a little bit. I think the man was a disgrace as a President. That said, this crap started way before him.

Now if you want to say "Thanks Democrats" then you may be on to something.

[Wally_Kalbacken]

“substantial windfall at taxpayer expense.”

Finally, a succinct explanation of what this is about. In essence, either the borrower pays, or the taxpayer pays. It is a zero-sum game. The usual shallow treatment by journalists fails to address this, and leaves some low-IQ readers assuming that the debt simply vanishes.

I have had clients with more than $750k in student loan debt, which was forgiven under the programs existing during the Biden Administration. Wonderful for the borrower; she had just paid 9% of her total debt over 10 years, then the remainder was laid to rest on the backs of the general revenue taxpayers of the United States.

The failed institution forgiveness might have some justification to it - but where is the responsibility of the borrower in using other people’s money to attend bogus or clearly failing schools?

The entire student loan universe needs re-engineering.