Republican U.S. Senator Jos Hawley of Missouri introduced the “Make the Universities Pay Act” to require colleges and universities to pay 50 percent of student loan balances that go into default in response to President Joe Biden’s announcement that taxpayers will absorb student loan debt of at least $400 billion, the CBO estimates. The cost to individual American taxpayers is $2,500 each.
“For decades, universities have amassed billion-dollar endowments while teaching nonsense like men can get pregnant. All while charging extortionary tuition,” Senator Hawley said.
“Now Joe Biden wants to give away another $1 trillion to prop up the system. That’s wrong. Instead, it’s time to put universities on the hook and give students the information they need to make informed decisions.”
“We can afford to cancel $10,000 in student debt and 20,000 bucks if you had a Pell Grant for Americans making under $125 grand,” Joe Biden said. “I don’t want to hear a word from those members of Congress, you notice, whose families got 10s of thousands of dollars and several-million dollars in pandemic relief loan forgiveness, same ones criticizing. Give me a break. Come on.” Senator Hawley went to Stanford and Yale, for what it’s worth.
“We’re gonna do all this while reducing the deficit,” Biden said. “I’m so sick of Republicans saying we’re the big spenders, give me a break. Give me a break.”
Give me a break.
94 million Americans 25 and over, which is about 42% of the total U.S. population, had an associate, bachelor’s, graduate, or professional degree, according to UU Census Bureau’s most recent data. So tell me why the other 58%, or 131 million, of those that chose not to go to college need to pay $2500 for other people’s kids to get a degree for job that might not exist?
Women accounted for the majority 53% of college degree holders among Americans ages 25 and older in 2019, according to US Census Bureau. White Americans made up the overwhelming majority of those who hold college degrees in 2019, accounting for nearly three-quarters of the group. Black, Asian, Latino/a, and Native American individuals combined made up less than 30% of the population 25 and older who have earned a college degree. Is this equity? No thanks.
The bill would also qualify student loan debt to be discharged in bankruptcy. Currently, only credit card balances, medical bills, personal loans, unpaid utilities and phone bills can be written off. Under Hawley’s proposal, colleges can’t raise tuition to offset the new expense. The bill prohibits tuition and fee increases unless there is an equivalent percentage decrease in administrative expenses. ◆
