Republicans Join Sen. Scott In Demanding That Colleges Pay A Price For Student Debt

U.S. Sen. Rick Scott seeks to hold colleges accountable for the student-loan situation getting out of hand, as The Free Press noted on Saturday.

The Florida Republican recently introduced the Changing Our Learning, Loans, Endowments, and Graduation Expectations, or COLLEGE, Act. Going forward, if enacted, the bill would require colleges to ensure students are working toward degrees that would help them land good jobs to make them self-sufficient, including repaying that loan.

Scott also would make colleges repay a portion of the debt if borrowers default, and make super-wealthy schools dip into their endowments to cover some or most of students’ financial aid if they receive government help.

Yet Rep. Steve Scalise had a more novel idea for the present.

In the news: NY’s Hochul Keeps Swiping At DeSantis, Even After Admitting He’s Right

Instead of demanding cancellation of their financial obligation, they should seek refunds.

Appearing on Fox News Friday, the Louisiana Republican noted recent estimates that peg President Joe Biden’s student-debt cancellation scheme at $500 billion or more.

That came on top of two recent bills that boosted new spending by roughly $1 trillion.

“All of this is, by the way, going to increase inflation, and inflation is driven by the mad trillions in spending you’ve already seen. Add another over a trillion dollars in new deficit spending just in a week, and look at what that’s going to do. And all to do what? To shift income,” Scalise said.

“About 85 percent of Americans don’t have any student loan debt and they’re going to be paying for about 15 percent of Americans who do. You know, is that a wealth transfer, and for what?” Scalise added.

“Because they didn’t get a good education? They should ask for a rebate from the college, not from the hardworking taxpayers of America.”

Conservative economist Stephen Moore, a former adviser to former President Donald Trump, agreed colleges should be on the hook for some relief.

“Why aren’t we holding the universities responsible for some of this debt?” said Moore, who was on the broadcast with Scalise.

“They have $700 billion of endowment. $700 billion, and why aren’t they using that money to lower tuition for families? And if a school has somebody who went through the school, they don’t pay that debt back, I think that the school should be responsible for that money, not the taxpayer.”

Moore added that Biden’s debt cancellation effectively killed the student loan program.

In the news: Bidenomics Keeps Driving Up The U.S. National Debt For No Discernible Good Reason

“Think about this, who in the world ever is going to repay a student loan?” he said. “I mean, the program is dead if they do this because the incentives are never to pay your loan and wait until they give you an amnesty and you don’t have to pay the money back.”

The views and opinions expressed in this commentary are those of the author and do not necessarily reflect the opinion of The Free Press.

Visit Tampafp.com for Politics, Tampa Area Local News, Sports, and National Headlines. Support journalism by clicking here to our GiveSendGo or sign up for our free newsl etter by clicking here.

Android Users, Click Here To Download The Free Press App And Never Miss A Story. Follow Us On Facebook Here Or Twitter Here.