President Joe Biden’s announcement last month that $10,000 of federal college debt would be forgiven per person was met both with praise and disgust.
College graduates burdened with debt applauded the decision, as did advocates that sought even larger forgiveness rates as high as $50,000. But those who didn’t attend college and others who have already paid off loans, as well as fiscal conservatives, decried the announcement as a reckless one that benefits few at the expense of taxpayers.
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