Pros and cons aside, as the father of a high school senior, I know the salience of this issue will endure beyond the midterms and the expected legal challenges to Biden’s plan. Biden offered targeted assistance, proposing to cancel up to $20,000 in federal loan debt for recipients of federal Pell Grants and $10,000 for other borrowers. Honest higher education representatives have conceded for years that, for all its benefits — from lifetime earnings to elevating the mind and soul — college is overpriced. He might disqualify from federal loan eligibility those schools whose graduates stagger under the highest debt, especially in comparison to their post-graduate earnings. Will they dither on meaningfully helping their future base, beyond Biden’s $20,000 forgiveness Band-Aid?

Source: New York Times September 20, 2022 15:51 UTC