Your Tax Dollars at Work
The administration has now forgiven approximately $167 billion in student loans. Let that sink in. That's $167,000,000,000 in obligations transferred from the people who took them on to the people who didn't.
I'll do the math for you: that's roughly $1,270 per taxpayer. You just bought someone else's gender studies degree. You're welcome.
Follow the Money
Here are the receipts. The average student loan borrower who received forgiveness holds a graduate degree and earns above the median household income. The average taxpayer funding that forgiveness does not hold a graduate degree and earns below the recipient.
Read that again. We are transferring wealth upward while calling it equity.
The plumber in Toledo is subsidizing the MBA in Manhattan. The welder in Amarillo is paying for the law degree in Los Angeles. This is not a rounding error. This is policy.
And it gets worse. Universities have no incentive to lower tuition when the government guarantees payment. Every dollar of loan forgiveness is a dollar that tells universities they can charge whatever they want. The program doesn't solve the problem. It feeds it.
What Nobody Mentions
The Congressional Budget Office estimates the total cost of student loan forgiveness programs — including income-driven repayment modifications — at $475 billion over the next decade. That's nearly half a trillion dollars that doesn't build a road, defend a border, or fund a veteran's healthcare.
But wait — there's more. The Penn Wharton Budget Model calculated that broad-based loan forgiveness would add approximately 0.1 to 0.3 percentage points to inflation. In an economy where every basis point matters, this is the government adding fuel to the fire it claims to be fighting.
Here's what your tax dollars bought: a transfer from those who didn't go to college to those who did, a tuition increase incentive for universities, and a small but measurable contribution to the inflation eating your paycheck.
Follow the money. It always tells the truth.
