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Betsy DeVos Criticizes Democrats’ Plan to Eliminate Student Debt as ‘Crazy’

Betsy DeVos Criticizes Democrats’ Plan to Eliminate Student Debt as ‘Crazy’

“Let’s look at this for what it really is: A federal takeover of higher education.”

https://www.youtube.com/watch?v=gBe8R3AlD1U

Education Secretary Betsy DeVos makes an excellent point about this. Where do Democrats think the money is going to come from?

FOX News reports:

Betsy DeVos blasts Democrats’ ‘crazy’ plans to eliminate student loan debt

Education Secretary Betsy DeVos panned Democratic proposals to eliminate student loan debt, calling them a “federal takeover of higher education.”

DeVos appeared on “Special Report” on Friday and said if the federal government forgives college loan debt, the burden would be shifted to those Americans who opted not to go to college.

“Their proposals are crazy,” she said, saying some could cost into the trillions of dollars.

“Who do they think is actually going to pay for these? It’s going to be two of the three Americans that aren’t going to college paying for the one out of three that do,” DeVos said. “Let’s look at this for what it really is: A federal takeover of higher education.”

On the Democratic primary ballot, Sen. Bernie Sanders, I-Vt., released a plan in June that calls for all student debt to be eliminated regardless of family income level, and that students from families with incomes of $25,000 or less would have their college costs covered.

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Comments

Or shifted to those who paid it off.

That said, I think for one year we should have “Bankruptcy for any reason”, which would ding your credit, and not to be done lightly but help people with useless degrees reenter the economy. (I would include credit card debt). They could also renegotiate the debt, sometimes interest and penalties exceed the original debt because they can.

Trump should propose something like this.

Then move the student loans to the College’s endowments so they can get a “can’t exit in bankruptcy” guaranteed 4% or whatever instead of investing in hedge funds and stuff. And if they can’t pay it back? Well, they should be careful in making the loans. But Harvard’s endowment should loan to Harvard students, and Oberlin’s to Oberlins (if they have anything left after Gibson payout).

Why is it harder to get out of student loan debt than a marriage where you vowed before man and God till death do you part?

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