Economic purists have argued that the cash for broke-ass students ACTUALLY provides a disincentive for those who met their obligations without government help.
Meanwhile . . . More strident progressives note that the money offered but the current administration is a mere pittance compared to the rising costs of college which have INCREASED MUCH HIGHER THAN THE RATE OF INFLATION over time i.e. EVERYBODY HAS PAID FAR MORE THAN BOOMERS were forced to endure.
Behind the debate . . . Here's the data . . .
According to the Education Data Initiative from 2022, 833,000 Missourians owe money for their college education. It’s about 13.5% of all residents. Under Biden’s plan, Americans that make less than $125,000 annually will have up to $10,000 forgiven from their federal loans. Pell Grant recipients will receive up to $20,000.
Read more via www.TonysKansasCity.com link . . .
JEFFERSON CITY, Mo. - The average amount a college student in Missouri borrows to pay for school is roughly $35,000, according to the Department of Education. In August, President Joe Biden announced that 43 million Americans would see their student loan debt erased under his forgiveness plan.