OPINION:
The Supreme Court decision to overturn President Biden’s executive order forgiving people’s first $10,000 in outstanding college loans just makes sense (“Supreme Court shoots down Biden’s student loan forgiveness,” web, June 30).
Even worse than that plan, though, was Senate Majority Leader Charles E. Schumer’s desire to raise that sum to $50,000.
Too many elected officials promise supposedly free stuff from Washington. There are millions of American parents who saved and sacrificed to put their children through college. Many students worked part-time jobs to attend college.
Others worked full time during the day to be able to afford undergraduate, graduate or law school classes at night. Some first attended less expensive community colleges and later transferred to four-year colleges.
Millions benefited from being able to attend college on student loans, and it has given them access to the middle class.
Yet how many others then stuck Uncle Sam with the bill? Despite being successfully employed for years at well-paying jobs, there are several hundred thousand former students with ample income who now refuse to pay off their student loans.
Mr. Biden wanted Washington to simply write off several hundred billion dollars in outstanding debt.
Colleges and universities that are tax exempt have endowments worth over $800 billion. Why didn’t Mr. Biden ask them to contribute to reducing their own graduating students’ debt instead of sticking taxpayers with the bill?
His forgiveness program would have cost taxpayers $400 billion over the next decade, according to estimates. Collecting some of these outstanding debts from those who can easily afford to pay is only fair.
LARRY PENNER
Great Neck, New York
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