Student loan forgiveness program criticized for shifting billions of debt to taxpayers

Transferring college student loan debt to taxpayers became a significant contentious issue during the Biden administration, which Congress and President Donald Trump ended, calling it unfair, irresponsible and beyond the scope of executive authority.

However, the Public Service Loan Forgiveness program, which also shifts college loan debt to taxpayers, remains in place. Some lawmakers argue it has also become too expensive, as it costs almost $30 billion.

Tommy Aiello, who is the senior director of government affairs at the National Taxpayers Union, said it’s the sort of program that “sounds good” when it was first implemented, but “just doesn’t work” 20 years down the road.

“Essentially, what it says is if you work for a state, local, federal government, or a non-profit, after 10 years you get all of your federal debt wiped away,” he said Wednesday during a one-on-one interview with The National news Desk’s Jan Jeffcoat. “And we know that that doesn’t just get wiped away. It gets shifted over to taxpayers.”

Aiello said the program costs about $3 billion a year, which is $30 billion over 10 years.

READ THE STORY

--------------------------------------

The National Desk (TND) brings you award-winning local storytelling from Sinclair Broadcast Group's local TV newsrooms across the United States and feeds from sources throughout the world.

Like us on Facebook for live feeds, video

Follow us on Instagram

Follow us on TikTok

Follow us on X

Read more & watch our videos

TND covers content from Sinclair's stations in:

Abilene-San Angelo, TX : KTXS

Albany, GA : WFXL

Albany, NY : WRGB

Amarillo, TX : KVII

Asheville, NC : WLOS

Austin , TX : KEYE

Bakersfield, CA : KBAK/KBFX

Baltimore : WBFF

Beaumont, TX : KFDM/KBTV

Birmingham, AL : WBMA

Boise, ID : KBOI/KYUU

Bristol, VA : WCYB

Cedar Rapids, IA : KGAN/KFXA

Champaign, IL : WCCU

Charleston, SC : WCIV

Charleston, WV : WCHS/WVAH

Chattanooga, TN : WTVC

Cincinnati, OH : WKRC/WSTR

Columbia, SC : WACH

Columbus, OH : WSYX/WTTE

Dayton, OH : WKEF/WRGT

El Paso, TX : KFOX/KDBC

Eugene, OR : KVAL/KMTR

Eureka, CA : KAEF

Flint, MI : WEYI/WBSF

Fresno, CA : KMPH

Gainesville, FL : WGFL

Green Bay, WI : WLUK

Greenville-New Bern, NC : WCTI

Harlingen, TX : KGBT

Harrisburg, PA : WHP

Jefferson City, MO : KRCG

Johnstown, PA : WJAC

Kalamazoo-Grand Rapids, MI : WWMT

Kirksville-Ottumwa, IA : KTVO

Las Vegas, NV : KSNV

Lewiston, ID : KLEW

Lincoln, NE : KHGI/KWNB

Little Rock, AR : KATV

Lynchburg, VA : WSET

Macon, GA : WGXA

Medford, OR : KTVL

Mobile, AL : WPMI

Myrtle Beach, SC : WPDE

Nashville, TN : WZTV

Oklahoma City : KOCB/KOKH

Pasco, WA : KEPR

Pensacola, FL : WEAR/WFGX

Portland, ME : WGME/WPFO

Portland, OR : KATU/KUNP

Providence, RI : WJAR

Quincy-Hannibal, IL : KHQA

Redding-Chico, CA : KRCR

Reno, NV : KRNV/KRXI

Rochester, NY : WHAM

Salt Lake City : KUTV

San Antonio, TX : KABB/WOAI

Savannah, GA : WTGS

Seattle, WA : KOMO/KUNS

Sioux City, IA : KMEG/KPTH

South Bend, IN : WSBT

Springfield, IL : WICS

Steubenville, OH : WTOV

Syracuse, NY : WSTM

Toledo, OH : WNWO

Traverse City, MI : WPBN

Tulsa, OK : KTUL

Washington DC : WJLA

West Palm Beach, FL : WPEC

Wilkes-Barre, PA : WOLF

Yakima, WA : KIMA

This video and all Sinclair Broadcast Group content archives of local news and sports coverage are available for your use. For more information contact us at contentsales@sbgtv.com