Three Senate Democrats who must face the voters next year in states that Trump won voted with Republicans to reverse President Biden’s partial forgiveness of student loans. Biden predictably vetoed that bill, which passed both houses under the streamlined provisions of the Congressional Review Act. Nonetheless, it is clear to see that the honeymoon with liberal colleges is over. Recent generations of Americans have been told that a college degree is the path to prosperity, and well worth borrowing for. But now $1.78 trillion in student loan debt suffocates 43.5 million Americans, while the good jobs needed to pay off the debt have mostly disappeared due to phony free trade.
The debt ceiling compromise of a few months ago that had been applauded by the media requires a resumption of payments and interest on student loans by August 30. The deal also prohibits Biden from pausing student loans again, to the chagrin of progressive voters who want a free ride. Student debt was not so much of a problem when manufacturing and other high-paying jobs were available to work it off. But the May jobs report, also praised by the media anxious to boost Biden, showed a loss of manufacturing jobs, while other employers were cutting hours and not increasing wages as fast as inflation.
College education was once hailed as the best and surest path to wealth. No qualification was given on what college degrees would truly lead to success, so generations of Americans were left with the impression that all degrees are created equal. Consequently, your tax dollars are used to subsidize the women’s studies degrees of indoctrinated young people who will never be able to use those degrees in the workforce, but who will gladly vote Democrat for the rest of their days.
In spite of this insanity, a new generation is waking up to the fact that the trades are rapidly taking the place of the bachelor’s degree as the shortest path to fulfillment and prosperity. The higher education industry may have created the myth that degrees are the only way to win in life, but the federal government threw gasoline on that grease fire. It’s time to end the higher ed racket.