On Friday’s broadcast of the Fox Business Network’s “Varney & Co.,” Rep. Michael Waltz (R-FL) stated that forgiving student loan debt is simply “pouring more federal dollars” “onto this higher education industrial complex” to buy votes.
Waltz said, “It is buying votes, Stu, and it’s also an insult to everyone who did the right thing and worked hard and paid off their student loan. Look, I have an 18-year-old that’s about to go off to college, and the cost of higher education is out of control. It’s doubtful what you get in return for that, in terms of return on investment. … But meanwhile, we’re handing 18-year-olds these kind of unlimited loans. We’ve removed — the Democrats removed banks from the equation in terms of evaluating if you’re going to get a four-year degree in basket weaving, is that a good return on their loan, are you going to be able to pay it back? And this is just moral hazard and pouring more federal dollars, like the progressives want to do, onto this higher education industrial complex, which is what it is, it’s an industry at this point, particularly with tenure, where folks can’t be held accountable, is exactly the wrong answer.”
Follow Ian Hanchett on Twitter @IanHanchett
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