President Biden appears ready to write off a significant amount of federal student loan debt | Mississippi Politics and Current Affairs
Mississippi Governor Reeves calls it “fundamentally unjust and reckless.”
In the 2020 election, President Joe Biden (D) repeatedly said he was prepared to forgive $10,000 per borrower in federal student loan debt.
With his polls in the dumps and the midterms approaching, reports this week now indicate that Biden may be willing to top that number, giving hope to Democrats who support full debt cancellation in full.
The news prompted Mississippi Governor Tate Reeves to weigh in on the president’s possible federal debt cancellation, writing on his Facebook page that the move would be “fundamentally unjust and reckless.” Reeves said Mississippians without a college degree or who have paid their own way shouldn’t have to pay other people’s debts.
“Mississipians without a college degree (or who have paid off their debt) shouldn’t have to pay other people’s student loans,” Reeves wrote, going on to ask, “Why do people who choose not to go to college? university or chose to settle their own loans be punished for the benefit of those who made different decisions?”
Governor Reeves then noted the predatory nature of the student loan industry while strongly opposing the idea of federal cancellation.
“The student loan machine is predatory. He should be held accountable,” Reeves said. “But it’s a fundamentally unfair and reckless way for the Biden administration to do it.”
The Biden administration continued the pause on student loan repayments begun at the start of the pandemic, extending the last restart date from May to September 2022.
White House press secretary Jen Psaki said President Biden would decide whether to write off student debt before the current pause extension expires or he could extend it further.