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A bill that would prevent the cancelation of student loans was recently introduced to Congress.
The bill makes clear that the student loans being targeted were federal, and more specifically, those that were "class-based."
This piece of legislation, brought to the floor by Republican Senator Rick Scott, is designed to "prevent class-based loan forgiveness for Federal student loans under titleIV of the Higher Education Act of 1965 without the explicit appropriation of funds by Congress for such purpose." According to the language of the bill itself.
This comes as government spending, debt, and consequential inflation are at an all-time high. And yet, this hasn't seemed to slow the progressive wing of the Democrat party from pushing for impractical amounts of student debt cancelation.
Critics of debt cancelation cite the fact that this type of debt relief favors, at best, the wealthy or pre-wealthy, or at worst, people who unwisely spent their money.
This type of redistribution of wealth has been almost universally condemned or supported among party lines, with most democrats favoring loan forgiveness, and most, if not all, Republicans strongly opposing it.
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Joseph Hugh
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