'Washington Post' Slams Joe Biden Over Forgiving Some Student Debt

President Joe Biden delivers a speech
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News & Politics
Damir Mujezinovic

During the 2020 Democratic Party presidential primaries, most candidates supported forgiving some or all student debt and reforming higher education.

President Joe Biden resisted the idea for a long time but appears to have warmed up to it.

Biden recently revealed he will extend the pause on student loan payments until the end of 2022 and forgive up to $10,000 for those making less than $125,000 per year and up to $20,000 for Pell Grant recipients who make less than that same amount.

But not everyone supports the president's initiative.

'Washington Post' Rips Biden

The Washington Post's website
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According to The Washington Post's Editorial Board, Biden should neither pause the payments nor forgive any student debt.

In a scathing column, the Post's editorial board said "the situation is very different today" compared to 2020 when then-President Donald Trump paused student debt payments.

The U.S. economy has recovered from the coronavirus pandemic, the Post wrote, and the unemployment rate for people with college degrees is just two percent.

"It’s hard to make the case that college graduates are still facing an unprecedented crisis," the paper said.

'Regressive' Decision

The decision to forgive some debt is "even worse," according to WaPo. In fact, it is "regressive."

"It takes money from the broader tax base, mostly made up of workers who did not go to college, to subsidize the education debt of people with valuable degrees. Though Mr. Biden’s plan includes an income cap, the threshold does not reflect need or earnings potential, meaning white-collar professionals with high future salaries stand to benefit."

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The Washington Post wrote that forgiving student debt is not just regressive but will also most likely contribute to inflation.

Citing the Committee for a Responsible Federal Budget, the paper wrote that extending the loan pause by 2023 will cost the U.S. $20 billion while forgiving $10,000 for eligible people will cost $230 billion in total.

"Mr. Biden’s student loan decision will not do enough to help the most vulnerable Americans. It will, however, provide a windfall for those who don’t need it -- with American taxpayers footing the bill," the editorial board concluded.

Support From Young People

President Joe Biden delivers a speech
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It is no secret that young Americans are overwhelmingly progressive. In the 2020 election, around 60 percent of 18 to 29-year-old voters vote for Biden over Trump, per FiveThirtyEight.

But shortly after being inaugurated, Biden lost the support of young people. In July, for example, his approval rating among those younger than 29 was just 37 percent, with 53 percent disapproving of his job performance.

Whether Biden forgiving some student debt will improve these numbers remains to be seen, but Democrats will need all the help they can get in the upcoming midterms.