To the publisher:

Over the last 30 years, enrollment in colleges and universities has increased 300%. President Biden’s recent ploy to forgive $10,000 in student loans ($20,000 if he has a Pell grant) for those making less than $125,000 was done illegally without Congress. It’s a slap in the face to everyone who worked to pay off their student loans or to parents who worked two or three jobs to pay for their children’s education.

This has nothing to do with blue collar working class individuals. For many, it will reduce student loan balances for financially able families to help cover college costs. The government does not have the legal right to transfer the debt owed by private citizens on the backs of all taxpayers. This is strictly a ploy to get votes for the midterms.

Like much of what the Biden Administration has done by ignoring the law, Student Loan Forgiveness will be challenged in court where it will be overturned. The problem is that this will not happen before the November elections and for those who believe that they will receive $10,000, it will be a disappointment. Unfortunately, the White House doesn’t even know the true cost of student loan forgiveness. Your best guess is $300 billion. At $300 billion, it will cost each of us who pay taxes $2,200. It could go way beyond this number. Estimates have ranged from $500 billion to a trillion. It will do nothing to stop colleges and universities from raising costs. The only way to pay for this is by raising taxes.

What your administration should do is address the cost associated with overcharging tuition and room and board, which is a direct cause of government funding and organized labor intervention. These institutions have no skin in the game. The government doles out billions of dollars in loans, while colleges and universities capitalize by raising this borrowed government money from people who may or may not be able to repay it with no obligations other than dictating tuition and housing costs. Labor benefits organized by your government support. In return, they can add thousands of administrative jobs and tenured teachers in an endless cycle.

Like all loans, money for education means that the borrower has contractually agreed to pay it back plus interest. In my own experience, it took me 13 years to pay off my college loans in a job that paid less than $10,000 a year. What this president is doing is immoral and will create future student debt problems. He creates no incentive for colleges and universities to cut costs that would be far more lucrative to students than a $10,000 or $20,000 stipend. He will discourage students from working hard to get out of debt. Because those who cut back, worked, skimped and saved to pay off their loans will now have to foot the bill for those who didn’t.

William R. Bellotti
Middlebury, CT

Bellotti served as Deputy Labor Commissioner under Governor John Rowland

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