President Joe Biden’s sweeping student loan forgiveness plan is certain to spark criticism from both sides: Those who were clamoring for Biden to simply wipe out student debt altogether, and those who insisted that the president had no business forgiving loans at all.
Some of the criticism is legitimate, as this editorial board has pointed out in the past regarding overreaching proposals encouraging Biden to “cancel it all.” Loans don’t just disappear. Someone has to pay. And a majority of Americans are apparently worried about the fiscal consequences: 59% of respondents to an CNBC/Momentive poll from earlier this month said they were concerned that loan forgiveness would make inflation worse.
