I'd like to talk about a monumental story that's dividing our country: President Biden and his student loan forgiveness plan.
He made the historic decision to erase up to $10,000 in student debt, and if you received Pell Grants, poof, that's $20,000 you won't have to pay. Which begs the question: Who will pay for all of it?
And by all of it I mean $300 billion that the president plans to eliminate. The answer is us, the taxpayers. Our government will foot this astronomic bill, which means we'll be paying for it. If you think inflation is bad now, just wait. You haven’t seen anything yet.
And I recognize a lot of people are struggling and need assistance. I'm sensitive to that, especially when more than 600,000 Kentuckians have outstanding student debt. That's a whopping number that needs to be addressed. But remember, student loan debt isn't the problem.
People have worked tirelessly for years to pay off school loans. It can be done. The problem is our economy and rising inflation. That's what's making it impossible for people to survive. Under this new forgiveness plan, we'll be chasing our tails to catch up, and things will get worse before it gets better.
What's your opinion? Call us or share on Facebook. I'm Dale Woods, and that's my Point of View.