Biden's student loan bailout

 Washington Examiner:

There are few things more divisive in America right now than a college education. Among every demographic, a person’s level of educational attainment strongly correlates with what party they support — stronger than income, sex, and often even race.

It is unfortunately not surprising, therefore, that President Joe Biden is planning the largest government bailout since the 2008 financial crisis, the vast majority of which will go to wealthy college graduates who overwhelmingly support the Democratic Party.

The federal government has already suspended payments on student loans six times since COVID-19 shut down the economy in March 2020. Now the Education Department has told student loan servicers not to send out billing notices for payment resumption in September, implying a seventh extension that will most likely extend at least through the midterm election.

The only remaining drama left before Election Day is whether Biden will take the extra step of announcing permanent executive action to cancel a reported $10,000 per borrower. The Education Department has reportedly developed detailed plans to do exactly that.

Biden’s giveaway to college graduates would reportedly be limited to people earning less than $125,000 a year and families making less than $250,000 a year. But the Education Department does not have data on how much money people with student loans currently make. To implement the income cap without salary information, the Education Department will have to let borrowers self-report their income through an online application. Well-to-do college graduates seeking a handout from less privileged taxpayers would be on the honor system. The possibility of fraud in this system is staggering.

...

This looks like a bribe to a few in the educated establishment.  

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