Warren’s Proposal to Forgive Student Loan Debt Is Bashed by a Third Editorial Board | NTK Network Warren’s Proposal to Forgive Student Loan Debt Is Bashed by a Third Editorial Board

Warren’s Proposal to Forgive Student Loan Debt Is Bashed by a Third Editorial Board

"Throwing more money at universities is not the solution. In fact, a good case can be made that it is a part of the problem..."

By NTK Staff | 05.02.2019 @2:30pm
Warren’s Proposal to Forgive Student Loan Debt Is Bashed by a Third Editorial Board

USA Today’s editorial board joined the Chicago Tribune and Washington Post’s editorial boards in bashing 2020 hopeful Sen. Elizabeth Warren’s (D-MA) proposal to forgive some $1.5 trillion in student loan debt on Wednesday.

“Throwing more money at universities is not the solution. In fact, a good case can be made that it is a part of the problem,” the USA Today editorial board said of Warren’s proposal.

“Tuition has increased even as funds from Washington, state governments and private sources have flooded in. The New York Federal Reserve found that for every dollar in new subsidized student loans the government offers, schools jack up the price of tuition by 60 cents.”

“Any kind of debt forgiveness produces perverse incentives and raises fundamental questions of fairness,” the editorial board wrote. “Parents, for instance, might save less for college if they thought they could borrow money and not have to pay it back. Those who financed college through work study or taking time off to earn money would justifiably be outraged, as would those who scrimped and saved to pay off loans not eligible for forgiveness. The concept of debts as personal obligations would be undermined.”

Earlier this week, the Chicago Tribune’s editorial board gave Warren’s plan an “F,” saying that there was “plenty” wrong with Warren’s proposal.

“Warren’s plan would cost more than advertised, and it would shower federal largesse on millions of Americans who don’t need it. You don’t need a college education to understand why that’s a bad idea,” the Tribune’s editorial board wrote.

And last week, the Washington Post’s editorial board called Warren’s proposal a “sweeping bailout for the middle class and above” at the expense of the poor.

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