An education for critics of student loan forgiveness

I really have to wonder at the individual who concluded that student debts are the result of overindulgent parents “buying for the child whatever he wants” (“Student calls for college debt relief suggests overindulgence by parents,” May 4). What kind of a improvident parent would buy everything for their progeny but fail to finance a college education so that they would have to borrow money?

Student loans are for the purpose of providing higher education for those who can’t afford college or for people whose parents are skeptical or unconcerned about the merits of higher education. The letter writer seems to think student loans come from the tooth fairy unaware that private bank loans as well as the U.S. Department of Education provide these.

President Biden has no power that I’m aware of to require private banks to take it on the chin. The writer also claims that forgiving student debts will raise prices because institutions will be afraid of losing money. Has he been hiding under a rock for 30 years? Institutions of higher learning have been raising tuitions profligately to the point that student loans are required for all but the incredibly wealthy.

Even with the price of education at ruinous levels, it still has considerable merit if it protects us from civic and financial ignorance.