The idea that college is a scam and not worth the steep price has been hotly debated for years. Now, it is in the forefront of the news with Biden’s new student loan forgiveness plan. Many people believe that the plan is morally and fiscally wrong.
Canceling student debt will not stop universities from charging more tuition in the future. By continuing to back loans without schools being accountable for their pricing or for the practicality of their degrees, the federal government will be allowing universities to recklessly shell out more loans to students. Canceling student debt will wind up increasing the cost of tuition since payment will be guaranteed.
