Linda McMahon Reveals Truth Behind Biden’s Loan Forgiveness Programs
The head of the Department of Education (DOE) Linda McMahon has defended the Trump administration’s move to resume student loan debt collections, something she says colleges and universities profited from during the Biden administration when it implemented loan forgiveness measures.According to the New York Post, the DOE announced Monday that federal student repayments would begin again from May 5, which have since gone into default for more 5.3 million borrowers.
In a Wall Street Journal op-ed, McMahon blamed the Biden administration and universities for pocketing loan dollars and making “empty promises” to students.
“Colleges and universities call themselves nonprofits, but for years they have profited massively off the federal subsidy of loans, hiking tuition and piling up multibillion-dollar endowments while students graduate six figures in the red,” McMahon wrote.
“On May 5, we will begin the process of moving roughly 1.8 million borrowers into repayment plans and restart collections of loans in default. Borrowers who don’t make payments on time will see their credit scores go down, and in some cases, their wages automatically garnished,” she said.
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2 comments:
Southwest CEO says the U.S. airline industry is already in a recession
America's Golden Age has begun!!!!!
@4:03...you insist on commenting on something not relative to the blog. Democrats do that. Southwest is cutting back because no one wants to fly. Also, Southwest has been under pressure from activist hedge fund Elliott Investment Management, which took a stake in the airline and won board seats last year.
You just love to be a "downer."...someone only a mother could love.
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