Although President Biden claims to understand the gravity of the student loan crisis, he is not criticizing his Democrat supporters who control these schools as they senselessly rack up so much debt for students. Meanwhile, these same schools bring in foreigners on visas as another way of grabbing more revenue. Many of these foreign students then overstay their visas and never return to their foreign countries, and either take jobs from Americans here, take government entitlements funded by taxpayers, or commit heinous crimes. Graduate-level positions, many funded by government grants, are increasingly filled by the foreigners here.
In the last decade there has been a 39% increase in enrollment by foreign students in the United States. Today they total an estimated 1.1 million students in college, a third of whom are disproportionately from China, which hardly seems deserving of more handouts by Americans.
Statistically, those with college educations tend to make more money, which is all the more reason to reject calls for programs euphemistically known as “loan forgiveness.” Erasing student debt is shockingly unfair to those who went to work during their prime years or paid off their student loans. Colleges should be the ones refunding students who did not receive good jobs they were misled to expect from a liberal arts education.
Of course, the students who take out these loans should ultimately be responsible for their repayment. The classic line regarding the Twenty-Sixth Amendment was that if an eighteen-year-old was old enough to gamble, smoke, and join the military, he is also old enough to vote. The way I see it, if the government deems an eighteen-year-old capable of voting, smoking, and joining the military, he must also be held accountable for the very adult decision to put himself in bondage with $100,000 of debt to get a useless college degree in women’s studies.
Never before has an American citizen been given student loan debt against his will, but if President Biden succeeds in transferring billions of dollars of student debt to the American people, all taxpayers will be forced to take on the student debt of others.