Deeply Unfair 10 Reasons Why Student Debt Cancellation is Unfair It is unfair to those who sacrificed to pay off their student loans and it's unfair to those who foot the bill.
It creates incentive to take on new student loans.
It is blatant election year bribe to college students and college graduates.
It creates creates a moral hazard for college administrators to sell useless degrees creating another overhang of new student debt.
The president has no power to forgive student loans.
The current student loan program was authorized by Congress and contains no such authority to the president.
As a Senator Biden sponsored a law that made it so student debt could not be discharged in bankruptcy.
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