In a move that will make Bernie Sanders happy, despite it being a shortsighted, delusional decision, the U.S. Department of Education will forgive—a euphemism for wipe out, dismiss¸ act as if you never borrowed it $1.1 Billion in student loans.
The action targeted ITT Technical Institute, the now bankrupt educational chain. Officials say the school used fraudulent claims of salaries and career opportunities to lure students. All borrowers who didn't enroll elsewhere are flat-out relieved of responsibility. Those who did enroll elsewhere—we might consider them more persistent than those who didn't—will have to apply again for debt relief. Given the liberal's willingness to share our tax money, they won't have to fear rejection. San Diego U-T, 8/27/21 Here's what I wonder: is the Department of Education now educating America's youth that it's good to borrow money they'll not have to repay? Of the 43% who didn't repay their loans, and didn't complete their degrees, why should taxpayers reinforce their failure? And if they completed their degree, and hold jobs, why should taxpayers use their taxes to repay debt the debtors should repay out of their own incomes? Why are taxpayers responsible for bailing out those who continue borrowing to get something they want, knowing they won't have to pay back what they borrow—but get to keep what they don't pay for? That makes sense only to misty-eyed liberals who love "warm feelings." Just wondering...what will all Americans do when Federal Mints STOP printing paper money because BIG, "trust us to take care of you" government has no Money by seeing runaway inflation deflating our currency?
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