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Earlier today, the Supreme Court voted to overturn a Biden Administration program forgiving up to $20,000 of student debt per-person in this country.
In my view, this decision is not only deeply flawed legally but it is way out of touch with where the American people are. Student debt forgiveness has the support of the majority of people in this country, and for good reason.
Now, I would love to tell you that the Supreme Court is an impartial judicial institution whose decisions are above politics. That was perhaps once true, but it is certainly not the case any more.
Remember. Thirteen years ago, in the disastrous Citizens United decision, this Supreme Court ruled that billionaires can legally buy elections. And now, the Supreme Court has made it clear that they will continue doing everything possible to protect the big money interests against the needs of struggling working families. This right wing ideology is consistent with their recent decisions denying women the right to control their own bodies, ending affirmative action, attacking LGBT rights and limiting the government's ability to address climate change.
In my view, if right wing Supreme Court justices want to make public policy they should quit the Supreme Court and run for political office. Frankly, I do not think their extremist views will gain much traction with the average American voter.
Let’s be clear. Their decision on student debt is not only a disaster for millions of working class families, but it will do great harm to the future of our economy and our country’s economic competitiveness.
The United States used to lead the world in the percentage of people who graduated college, which is one of the reasons that we have the strongest economy in the world.
Today, tragically, that is no longer the case.
Today, we are penalizing our children and saddling them with decades of debt just for doing just what we tell them they need to do in order to be successful: get a college education.
Today, as a result of this decision, there are millions of Americans who may put off starting a family, saving for retirement, buying the home of their dreams, or a car they've long-needed.
Today, as a result of this decision, there are millions of Americans who may put off their dream of entrepreneurship and starting small businesses. This, in turn, will slow economic growth. And less growth means fewer jobs and less tax revenue to pay for services Americans want and deserve. In 1998, a Congressional report concluded that for every dollar the federal government spent on the GI bill, the return on investment was $6.90 in additional tax revenues.
Today, as a result of this decision, a message has been sent to bright young people who have the desire and the ability to get a higher education but cannot do so because their families lack the money. That message is: either forget about your dream to get higher education or accept the reality that you will be paying off debt for the rest of your lives.
How many great doctors, scientists, and teachers are we losing as a result of this decision?
How many young people who need training in order to become skilled mechanics, carpenters, welders, and electricians will not get the post-high school training they need?
This ruling is not just a tragedy for the people carrying student loans and their families, but it is also a great loss for our nation.
Unless you are a member of the oligarchy in this country.
Because the children of oligarchs don’t go to community colleges, or struggle to figure out how to afford public universities in their states while taking on overwhelming loads of student debt.
And after graduation, the children of oligarchs don’t send out résumés or put off chasing their dreams because of their outrageous loads of student debt.
No.
In my view, it is profoundly unfair that other students, simply because they had the good fortune to be born into wealthy families, can graduate college without a cent of debt. If we are a country that truly believes in equal opportunity, shouldn’t we level the playing field for all young Americans? I certainly think so.
So where do we go from here?
Today, I am urging the Biden Administration to implement a Plan B immediately to cancel student debt for tens of millions of Americans who are struggling to pay the rent, put food on the table, and pay for the basic necessities of life.
Despite this legally unsound Supreme Court decision, the President has the clear authority under the Higher Education Act of 1965 to cancel student debt. He must use this authority immediately.
If Republicans could provide trillions of dollars in tax breaks to the top one percent and profitable corporations, if they could cancel hundreds of billions in loans for wealthy business owners during the pandemic when Trump was President and if they could vote to spend $886 billion on the Pentagon, please don’t tell me that we cannot afford to cancel student debt for working families.
The American people understand that we cannot continue to crush our young generation with a mountain of debt for doing the right thing — getting a college education.
In solidarity,
Bernie Sanders
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❗️Before you go ❗️
Make a contribution today — of any amount you can afford — and we'll send you Bernie's Cancel Student Debt sticker in the mail. Send a message of your support for the idea that in the wealthiest country on earth, everyone in America who wants a higher education should be able to get that education without going into debt.
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