A total of 22 GOP governors across the United States got together and penned a letter that was sent to President Joe Biden on Monday where they offer strong opposition to his absurd plan to forgive student loan debt for millions of Americans, according to a new statement put out by Iowa GOP Gov. Kim Reynolds.
“We support making higher education more affordable and accessible for students, but not at the expense of the American taxpayers,” Reynolds, who led the initiative, went on to say.
“Your plan will encourage more student borrowing, incentivize higher tuition rates, and drive up inflation even further. These outcomes hurt everyone, but none more so than the millions of working-class Americans who’ve already paid off their loans or chosen not to borrow,” she made clear in the letter.
Reynolds then stated, “Rather than addressing the high cost of tuition for higher education or working to lower interest rates for student loans, your plan kicks the can down the road and makes today’s problems worse for tomorrow’s students.”
The Republican governors then pointed out in the letter, “The top 20% of earning households hold $3 in student debt for every $1 held by the bottom quintile, generating a lopsided reality where the wealthy benefit at the expense of the working. Simply put, your plan rewards the rich and punishes the poor,” according to a report from Florida Politics.
The letter from the governors then put emphasis on some other disparities in the ridiculous plan, saying, “College may not be the right decision for every American, but for the students who took out loans, it was their decision: able adults and willing borrowers who knowingly agreed to the terms of the loan and consented to taking on debt in exchange for taking classes.”
“As president, you lack the authority to wield unilateral action to usher in a sweeping student loan cancellation plan, a position shared by leaders of your party,” the letter continued, citing remarks made by House Speaker Nancy Pelosi, a California Democrat, stating that the president cannot, without the support of Congress, forgive student loan debt, only “postpone” the payments.
At the end of the day, there’s no such thing as student loan forgiveness. It’s simply those who made bad choices about college who aren’t able to pay their loans, passing the burden on to the average American taxpayer. You know, the folks who make up the disappearing middle-class who already support the weight of the entire country on their backs?
What’s going to happen is this student loan forgiveness program will lead to higher taxes and more inflation, making the economy even weaker than it already is. Do you think prices at the grocery store are heart attack-inducing now? Just wait a year. Things haven’t hit rock bottom yet.
If you went to college, or attempted to do so, and took out loans, it’s your responsibility to pay them back. You made that choice. Personal choices come with consequences. This is a lesson leftists haven’t learned. Or have, but choose to ignore its reality.