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OPINION:
When it comes to student loan “forgiveness,” not currently under consideration by the executive-order magic wand is the serious erosion of American character that it enables.
In this country, most people were taught growing up that they were to pay their debts — and not to do so was a disgrace. This fiasco by Biden attempts to paint irresponsibility as a virtue.
Biden, borrowers and their supporters claim that the actions being attempted will allow the scofflaws to get on with their lives unburdened by overwhelming debt. The cancelations and forbearance will put in reach for them the personal goals of buying homes, getting married and starting families.
That attitude suggests the loans were imposed upon the borrowers instead of being sought and taken out. It ignores the fact that the burden being lifted is being dropped again — like a 50-megaton bomb — squarely on the backs of those who did not create it and can ill afford to pay it. Indeed, paying a debt they did not create could impair, delay or destroy the hopes and dreams of the group now saddled with it.
Furthermore, the “rescued borrowers” are complaining that the amount of relief should have been greater.
Even if this travesty withstands legal challenge, the irresponsible will pay. When they attempt to purchase those homes and other big-ticket items, they may well be turned down as high risks because of their credit histories. Subsumed in good character are the traits of
honesty and good judgement. The so-called “loan forgiveness” and forbearance will be seen as defaults by the private sector.
HESSIE L. HARRIS
Silver Spring, Maryland
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