The student loan forgiveness proves that all of those college degrees really are worthless. But is it permissible for Joe Biden to basically pay for college students' tuition as long as he remains in office in order to buy their votes?
What is the true value of a college degree? We know how much secondary schools charge for the "opportunity" to enroll with them, but this tells us little about the worth of the services they provide.
In-state students typically pay roughly $10,000 a year in tuition, whereas out-of-state students often pay $25,000 a year. These expenses can be covered by federal student loans, but this is the application of tax money from the general public with the expectation of returns; it is not meant to be free money. To be clear, nobody has a right to a secondary education, much less one that is provided for free.
These days, student loans have an average interest rate of roughly 5% and include stipulations prohibiting bankruptcy discharge. People who ...