Biden’s Student Loan Forgiveness Will Increase Inflation

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Governor Biden announced that he will forgive student loans ranging from $10,000 to $20,000 per borrower under his plan. This will raise inflation. Ron DeSantis (R) said Tuesday.

DeSantis stated during a press conference that “and what else will increase inflation? This big student loan bailout where they’re maybe a trillion dollar-worth of student loans they’re going on the backs the taxpayer.”

We have people who paid their loans and have gone through college themselves, as you probably know. There are people who have decided that they don’t want the debt and have opted not to go to college. They made that decision to not have to take out loans. They now have to pay it as taxpayers.

“This is also going to increase inflation. This is not something I have to say. He said that it was like putting gasoline on the fire to do a trillion-dollar bailout, when inflation is already raging.” “Biden does not have the authority to do such a thing.”

You can’t do it all by yourself. There is no authority. He’s citing an old law from 9/11,” he explained, explaining that it applies to first responders as well as military personnel with loans.

“How does this equate to someone paying off their debt PhD in gender studies?” He said that it doesn’t and suggested that student debt relief should be aimed at universities.

He said that the university should be held responsible for the abuse of the system because they have been the ones who have used it for the past several decades. Biden, however, has not taken note of this aspect.

He said that it was going to increase inflation and that it is not doing anything about reforming universities.