NY Times editorial board says 'canceling student debt across the board' is 'a bad idea'

Posted 44 days ago

From WWW.FOXNEWS.COM

The New York Times editorial board argued that "canceling student debt across the board" was a bad idea in a Saturday piece.

"The Biden administration should spend its finite resources and political capital on fixing the higher education system to make it more affordable while helping those borrowers in the most distress. There are already ways to do this, although they have not gotten nearly enough attention or resources," the editorial board argued.

The authors wrote that fixing "a shattered system" via executive order could make things worse and would "set a bad precedent."

President Biden said at an April press conference that he was considering canceling "some" student loan debt.

"I am not considering $50,000 debt reduction, but I am in the process of taking a hard look at whether or not there will be additional debt forgiveness," Biden said. The authors said that the Biden administration's plans do not address students that graduate in the future with more student loan debt, "along with the blind hope of another, future amnesty."

"Such a move is legally dubious... (Read more)