It is odd that McConnell dismissed Biden's student debt forgiveness. McConnell said that the president's move is a slap in the face to every family who sacrificed to save for college, every graduate who paid their debt, and every American who chose a certain career path to avoid taking on debt.
He is not alone in this. Repayment is seen as a pay-your-dues kind of experience by some people. Forgiveness of debt is unfair to people who have already suffered.
For the sake of argument, let us acknowledge that it benefits the current generation of student debt holders more than the people who have already struggled through repayments. Even if it is not fair, it is still worth pursuing. A mass student loan forgiveness scheme is an essential policy correction to a worsening social crisis because these loans have deviated from their original purpose to allow borrowers to enter into a comfortable middle-class life and have now become albatrosses around the necks of loan.
I don't need to recount the hundreds of stories from recent years of borrowers who are overwhelmed by debt A young student thought that a college education would lead to a career in their chosen field. They wouldn't tell reporters if they wanted to be rich. They don't want a worry-free life. They all end the same: underemployment, debt, regret, and uncertainty.
College education stopped being a guarantee of a better life sometime in this millennium. It is a significant change in the promises made to young people. It is possible that you were sold the college dream only to end up in purgatory.
College has not stopped being a door to better jobs, just that the cost of the promise is so high that many people with good jobs on paper find themselves repaying student loans so expensive that they don't have a chance to pay them off ever
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