By Ben Ritz
Next week, President Biden’s executive order imposing a freeze on student loan repayments and interest accrual is set to expire. It’s almost guaranteed that the president will extend the freeze for a fifth time because no effort has been made to notify borrowers that payments are resuming, and to do so now would be providing too little time to prepare.
But in addition to extending the current freeze, Biden is under tremendous pressure from a years-long campaign by leftwing activists to cancel at least $10,000 of debt per borrower under a certain income threshold. This is a regressive and fiscally irresponsible demand likely to further estrange Democrats from working-class voters. Here are six reasons why he should develop a plan to resume payments in a timely manner that doesn’t include mass debt cancelation by executive order.
