It's a big political gamble. Obviously college graduates who will directly benefit will like the benefit. However, it looks like flagrant vote-buying, and few are going to look at it as responsible federal policy especially with the debt and inflation where they are. As I've said before, if it was done in the context of actual reform so we actually fixed the problem, it would be much easier to defend. However, Biden would have to be willing to massively piss off a powerful and wealthy interest group that almost universally supports and bankrolls Democrats. No chance in hell of him doing that.
Personally, I'm at least pretty sure I'll at least superficially benefit from this. I still have some student loans from law school. (I took out the loans when the interest rate was ridiculously low, so I haven't made it much of a priority to pay it off quickly.) This won't totally eliminate my loan, but it'll make a pretty significant dent. But is this really going to change my vote? Will I suddenly be ok with 9 percent inflation, high crime, a packed Supreme Court forcing a woke agenda by edict, and dudes in the girls locker room? No chance in hell.
Even if we ignore the cultural issues, just consider the inflation angle. Most of the so-called COVID "relief" money we got has probably already been taken back with the inflation. This $10K will only make that problem worse. Well, even if my loan balance drops, am I really better off if everything I buy is getting dramatically more expensive? Not really.
that Anyone would pay $22 for a piece of toast with smashed avocado.
