The highest court in our country heard oral arguments last week on President Joe Biden’s multibillion-dollar initiative that would erase student loans, and many are surprised what side of the argument I, a 22-year-old recent college graduate, fall on: I hope the Supreme Court rules against the administration’s student debt relief plan.
I rejected the plan from the beginning. Four years ago, I made the same choice millions of young Americans do upon leaving high school — I enrolled at a university to invest in my passions, my future, and myself. Along with that investment came student loans I’m required to pay. Many of my peers were elated by the original announcement that Biden will forgive up to $20,000 of their student loan debt. But I will gladly pay back my student loans independently.
The proposed initiative brings me confusion rather than elation. How much will this cost, and who should be responsible for footing the bill? The National Taxpayer Union projects that this initiative will cost more than $330 billion over the next 10 years. If you break it down, that’s $2,500 per taxpayer — $2,500 that someone can no longer invest into their own dream because they now must cover the cost of someone else’s.
Defying Our Values
Beyond the economic and financial implications, the true consequences of Biden’s plan are fundamentally moral in nature. This plan goes against the beliefs of our founders and the great thinkers before them who helped create this republic. Our nation was
