Student loan forgiveness is the wrong call
President Biden recently unveiled his administration’s plan for millions of dollars in student loan cancellation, forgiving $10,000 per borrower and $20,000 for Pell Grant recipients. Forgiveness will be applicable to single people earning less than $125,000 per year and married people earning less than a combined 250,000. While some praised the move as many Americans face mounting debt and inflation, this is a case of the wrong solution at the wrong time. Although student loan forgiveness gives a sense of relief to many borrowers, the truth of its uncertainty comes to the minds of many others. Many Americans have suggested…