Student Loan Forgiveness

Introduction

Student loan forgiveness refers to programs or policies that reduce or cancel student debt. Such programs or policies are typically run by the government. This forgiveness can be based on various criteria, such as working in public service, specific professions, income-based repayment plans, or meeting certain eligibility requirements.

Conservative Perspective

Conservatives are against student loan forgiveness. The recent Supreme Court case surrounding President Biden’s student loan forgiveness program highlighted some of the key arguments and concerns raised by conservatives in America.

Financial Burden

One of the main conservative objections to student loan forgiveness is the massive cost associated. In the case before the Supreme Court, Chief Justice John Roberts pointed out that the Biden plan could potentially cost half a trillion dollars. Conservatives argue that such a significant financial burden is economically unviable.

Unfairness

Student loan forgiveness selectively helps those who attend post-secondary institutions. This is unfair to those who decided not to go to a post-secondary institution for two reasons. First, selectively assisting the debt of people because they chose to go to school over those who didn’t is an unfair, financial benefit. Particularly because those who attend post-secondary institutions already have a higher lifetime earnings than those who don’t. For example, it seems unfair for the government to cancel the student debt of someone who went to college and not financially assist someone who decided to become a plumber. Second, the plumber is going to be forced to help pay for the cancelled debt by way of taxation. It seems doubly unfair to both only help the college graduate financially and make the plumber pay for the college graduate’s decision.