The class folly of canceling student loans

It’s been just two weeks since Joe Biden won the presidential election, and the progressive feeding frenzy over policy priorities is already well underway.

Thanks to a widely reported tweet last week from Massachusetts Sen. Elizabeth Warren, calls for the Biden administration to come roaring out of the gate with a plan to cancel billions of dollars in student loan debt have been reverberating across the left. That it may be possible for the president to erase that debt through executive action (and without congressional involvement) only makes the plan more appealing to progressives.

But canceling student loan debt would be a massive unforced error for the newly minted Biden administration.



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