Jill Biden, First lady, led a meeting Wednesday to strengthen the teaching profession at the White House. She was asked about President Biden’s unilaterally implemented student loan relief plan last Thursday.
At some point prior to handing over the meeting to Education Secretary Miguel Cardona, Jill Biden was confronted by a Daily Mail reporter who asked her to explain how Biden’s plan, which was heavily pushed by Sens. Elizabeth Warren and Raphael Warnock in part on grounds it would help them come election time, would lower the costs of higher education as the President himself has repeatedly asserted will happen.
Dr. Jill was clearly stunned by the question, which was evident by her confused answer.
She said that “he claimed he would have loan forgiveness during the campaign.” “I heard him say it over and over again, and he kept his word.
You can see below her non-answer.
A reporter asks Jill Biden how the President’s student loan forgiveness program helps bring down the cost of higher education:
“Well, he said he was going to have loan forgiveness during the campaign … and he followed up on his promise and kept true to it.” pic.twitter.com/9Q47OHt7DQ
— The Post Millennial (@TPostMillennial) August 31, 2022
Twitter users claim that her cringe response to my question was “very Doctoral”. It was not impressive.
While I won’t defend Jill Biden’s actions, I will admit that she didn’t know the answer because there isn’t one. It can be very difficult to reveal the truth about your husband’s plans, especially when he is visiting the room while the pow-wow is in full swing.
Joe Biden walks in on First Lady Jill Biden’s meeting with Secs. Walsh and Cardona: “Whatever she says, I agree with.”pic.twitter.com/xoqNseJOAK
— Daily Wire (@realDailyWire) August 31, 2022
The truth is that tuition rates will rise. It is only a matter of how much.
FOX Business spoke with Brian Riedl of the Manhattan Institute, a senior fellow in tax and budget policy. He stated that he expects the handout to cause an increase in tuition prices.
Riedl said that students would be able to borrow more money once future loan forgiveness is restored. The increased borrowing will also be beneficial to universities by increasing tuition. This is similar in effect to the historic 60% student aid increases which were financed through tuition hikes. This will be considered an increase in student aid. This suggests that tuition increases will be countered by 60 %.
Fortune wrote a wonderful piece Tuesday about the “giant loophole” in Biden’s student-debt relief plan that could make college more costly.
Biden’s student loan forgiveness program will allow IDR [income driven repay] borrowers to pay just 5 percent for undergraduate loans and 10 percent for postgraduate loans. This will be for a period between 10 and 20 years, depending on how much is owed.
This is where the problem lies. Critics claim that IDR plans allow student borrowers to make exact duplicate monthly payments regardless of the loan amount. This encourages students to borrow more than they can afford.
So the answer to the question that Jill Biden couldn’t (or wouldn’t) answer was a simple two words: It won’t.