The American Civil Liberties Union last week applauded President Joe Biden’s plan to cancel student loan debt, which it describes as “a racial justice issue.” That puzzling position encapsulates how far the venerable organization has strayed from the mission reflected in its name.
Under Biden’s new policy, borrowers earning up to $125,000 a year will be eligible for $10,000 in debt relief, or twice that amount if they qualified for Pell Grants as students. The 43 million or so beneficiaries include affluent people who could readily afford to pay off their loans, while the cost, which is projected to be at least $300 billion, will be borne by taxpayers, including Americans of relatively modest means.
