Student loan cuts ignite political uproar
The complex politics of student debt relief burst into full view Thursday following President Joe Biden’s decision to forgive billions of dollars in student loans, adding a twist of uncertainty to an electoral landscape that has been shifting in the Democrats’ direction.
Fissures opened instantly within the Democratic Party, as moderates said Biden was doing too much and liberals demanded he do more, while Republicans lined up in adamant opposition to the debt forgiveness plan. White House officials asserted that Biden would benefit from delivering on a campaign promise that helps middle-class Americans but were scrambling to navigate the politics heading into the November midterm elections.
As current and former students nationwide began to digest what the plan might mean for them – some welcoming the relief, others criticizing it as unfair – politicians across the spectrum wrestled with the likely impact of a decision that had been vigorously debated within the White House.
Biden’s plan, which covers individuals making less than $125,000 a year, would forgive up to $10,000 in federal student loans, or $20,000 for Pell Grant recipients.
It touches on volatile issues of education and class. Conservatives say it will force blue-collar taxpayers to subsidize elite college students. Black and liberal leaders say it will provide critical relief to people who are struggling.
It also spurred debates on fairness, including among those who had forgone an expensive college to avoid burdensome debt, only to now see the government help those who attended costly schools.