{"id":1625909,"date":"2022-08-29T16:19:55","date_gmt":"2022-08-29T20:19:55","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1625909"},"modified":"2022-08-29T16:20:14","modified_gmt":"2022-08-29T20:20:14","slug":"democrats-split-on-student-debt-handout","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-split-on-student-debt-handout\/","title":{"rendered":"Democrats split on student debt handout"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdemocrats-split-on-student-debt-handout%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1625909&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div id=\"attachment_2742571\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-2742571\" class=\"size-full wp-image-2742571\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/AP22236694639167-scaled.jpg\" alt=\"President Joe Biden speaks about student loan debt forgiveness in the Roosevelt Room of the White House, Wednesday, Aug. 24, 2022, in Washington. (AP Photo\/Evan Vucci)\" width=\"2560\" height=\"1707\" \/><\/p>\n<p id=\"caption-attachment-2742571\" class=\"wp-caption-text\">President Joe Biden speaks about student loan debt forgiveness in the Roosevelt Room of the White House, Wednesday, Aug. 24, 2022, in Washington. (AP Photo\/Evan Vucci)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>UPDATED 12:50 PM PT \u2013 Monday, August 29, 2022<\/h5>\n<p>President Joe Biden\u2019s <a href=\"https:\/\/studentaid.gov\/manage-loans\/forgiveness-cancellation\" target=\"_blank\" rel=\"noopener\">Student Loan Forgiveness Plan<\/a> continues to be polarizing to all, even to individuals within his own party. Progressives rejoiced at Joe Biden\u2019s student loan forgiveness announcement while vulnerable Democrats broke with the President\u2019s decision.<\/p>\n<p>Senator Bernie Sanders (D-VT.) praised the move that a<a href=\"https:\/\/budgetmodel.wharton.upenn.edu\/issues\/2022\/8\/26\/biden-student-loan-forgiveness\" target=\"_blank\" rel=\"noopener\"> Penn Wharton model<\/a> estimated would cost taxpayers an excess of one trillion dollars over the next decade.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">If SoFI, a student loan refinancing company, could give its CEO a 92% raise last year paying him a grand total of $103 million in compensation and spend $625 million to put its name on the LA Rams football stadium, you know what President Biden can do? Cancel all student debt.<\/p>\n<p>\u2014 Bernie Sanders (@BernieSanders) <a href=\"https:\/\/twitter.com\/BernieSanders\/status\/1562209525402329088?ref_src=twsrc%5Etfw\">August 23, 2022<\/a><\/p>\n<\/blockquote>\n<p>However , during an interview on ABC this week, the Vermont Senator said the President\u2019s plan didn\u2019t go far enough and he called for further government subsidization of the education system.<\/p>\n<blockquote>\n<p><strong>\u201cWe have got to really be thinking about higher education in general,\u201d Sanders said. \u201cAnd, in my view, at a time when hundreds of thousands of bright young people can\u2019t even afford to go to college \u2013 if we\u2019re going to be competitive in a global economy \u2013 we need to make public colleges and universities tuition-free.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>Fellow Progressive Elizabeth Warren (D-Mass.) echoed Sanders\u2019s sentiments. While speaking with CNN\u2019s Dana Bash, Warren expressed that she believed the debt transference was justified because of the surging cost of higher education in the United States. However, Warren\u2019s statements failed to address why universities demand such a high price tag.<\/p>\n<blockquote>\n<p><strong>\u201cOur public education system is no longer creating opportunities for kids like me and other kids whose families can\u2019t afford to write a check,\u201d Warren said. \u201cInstead, we\u2019re saying to these young people \u2018you\u2019ve got to get an education but we are gonna wrap the chains of debt around you.\u2019\u201d<\/strong><\/p>\n<\/blockquote>\n<p>A direct correlation can be drawn between federal subsidization of student loans and tuition costs. The <a href=\"https:\/\/www.congress.gov\/bill\/102nd-congress\/senate-bill\/1150\" target=\"_blank\" rel=\"noopener\">1992 Higher Education Reauthorization Act <\/a>ensured loans directly from the Department of Education to borrowers. Between 1993 and 2006 tuition at public universities rose 47-percent.<\/p>\n<p>Not all Democrats are supportive of further government investments into student debt. A number of Democrats in swing state races, such as Representatives Tim Ryan (D-Ohio) and Sharice Davids (D-Kan.) \u00a0as well as Senator Catherine Cortez-Masto (D-Nev.) \u00a0have come out in opposition to the bill. The lawmakers have claimed that the move will help well-to-do Americans while failing to address the cost of education.<\/p>\n<p>Former Treasury Secretary Lawrence Summers, who served under both President Obama and President Clinton, has argued that forgiveness will encourage institutions to raise tuition.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\u201cI did not support large-scale student debt relief,\u201d says <a href=\"https:\/\/twitter.com\/LHSummers?ref_src=twsrc%5Etfw\">@LHSummers<\/a> in regards to President Biden&#8217;s recent decision. <\/p>\n<p>\u201cIt does add to demand, which does increase inflationary pressures, but that&#8217;s something that the Fed should be able to offset\u201d <a href=\"https:\/\/t.co\/5z9NOOERJl\">https:\/\/t.co\/5z9NOOERJl<\/a> <a href=\"https:\/\/t.co\/DyX1v6AdmU\">pic.twitter.com\/DyX1v6AdmU<\/a><\/p>\n<p>\u2014 Bloomberg TV (@BloombergTV) <a href=\"https:\/\/twitter.com\/BloombergTV\/status\/1563300348881604612?ref_src=twsrc%5Etfw\">August 26, 2022<\/a><\/p>\n<\/blockquote>\n<p>Former Top Advisor to President Bill Clinton, Paul Begala, expressed outrage that the White House would unfairly distribute funds into the hands of the educated at the expense of the lower class.<\/p>\n<blockquote>\n<p><strong>\u201cWhy is my party doing with this?\u201d Begala questioned. \u201cThey\u2019re disadvantaging. I think they\u2019re not helping people we\u2019re here to help which is poor people and underprivileged communities and they\u2019re not helping their politicians who are running.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>Currently, 87-percent of American adults do not have student loans. 58-percent of all student debt is held by the wealthiest 40-percent of Americans.<\/p>\n<p>The Biden administration has defended student loan forgiveness by conflating it with <a href=\"https:\/\/home.treasury.gov\/policy-issues\/coronavirus\/assistance-for-small-businesses\/paycheck-protection-program\" target=\"_blank\" rel=\"noopener\">Paycheck Protection Program<\/a> loans, which the government dispersed to employers in order to retain their employees after forcing them to shut down during the COVID-19 lockdowns.<\/p>\n<h4>MORE NEWS: <a href=\"https:\/\/www.oann.com\/democrats-defend-biden-calling-republicans-semi-fascist\/\">Democrats Defend Biden Calling Republicans \u201cSemi-Fascist\u201d<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden speaks about student loan debt forgiveness in the Roosevelt Room of the White House, Wednesday, Aug. 24, 2022, in Washington. (AP Photo\/Evan Vucci) OAN NewsroomUPDATED 12:50 PM PT \u2013 Monday, August 29, 2022 President Joe Biden\u2019s Student Loan Forgiveness Plan continues to be polarizing to all, even to individuals within his own &hellip;<\/p>\n","protected":false},"author":1209,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1625909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1625909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1209"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1625909"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1625909\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1625909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1625909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1625909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}