Cotton: Student Loan Forgiveness Is Dems Looking out for ‘Well-Educated Elites’ — We’re Not Paying off Mortgages, Other Loans

On Wednesday’s broadcast of the Fox News Channel’s “America Reports,” Sen. Tom Cotton (R-AR) stated that President Joe Biden’s student loan cancelation program “gives you an insight into the priorities of the Democratic Party. They’re, once again, looking out for the interests of wealthy, well-educated elites, largely clustered on our coasts” and stated that loan debts for small businesses, farmers, and working people aren’t being canceled.

Cotton said, [relevant remarks begin around 3:55] “$250,000 per family is four or five times the median income for the state of Arkansas. There are going to be young men and women working on Wall Street, coming out of the Ivy League or working in Silicon Valley coming out of Stanford or the University of California or Cal Tech, who are going to get up to $20,000 paid off on their loans on the hard work of Arkansans who either didn’t take out student loans, never went to college, have been making a living because they were able to start working right away, or paid their way through college. This is grossly unfair. But it just gives you an insight into the priorities of the Democratic Party. They’re, once again, looking out for the interests of wealthy, well-educated elites, largely clustered on our coasts, and that’s going to harm the vast majority of Americans who have to pay off their fellow Americans’ loans. No one’s paying off Arkansas farmers’ tractor loans, no one’s paying off their small business loans, no one’s paying off their mortgage, but Arkansans are now going to be paying off the loans of students who borrowed this money freely and willingly and now don’t want to repay it.”

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