'We should be proud': Education secretary explains why student loan forgiveness is an 'investment'

'We should be proud': Education secretary explains why student loan forgiveness is an 'investment'
Image via screengrab.
Economy

United States Secretary of Education Miguel Cardona explained to Fox News reporter Peter Doocy outside of the White House on Wednesday why the idea that President Joe Biden's student loan forgiveness initiative was unfair to people who have already satisfied their debts is illogical.

That talking point has erupted among Republicans and right-wing pundits who supported slashing taxes for the wealthiest Americans and large corporations in the recent past.

Cardona based his response to Doocy on that fact.

READ MORE: 'I will never apologize': Joe Biden rips critics of student loan forgiveness who gave tax cuts to the rich

"To those who are saying it's not fair; look, the aim of this is really to address the effects of the pandemic. It's my responsibility to make sure that people aren't coming out of the pandemic worse off than they were at the beginning," Cardona said.

"But to the fairness question: the people that are sitting at home, having just paid off their student loans or having paid them off years ago, what's in it for them?" Doocy asked.

"Right, well, look. When we address some of the issues that could lead to default – payments or default borrowers in the future – that affects everyone. We should be proud that we are able to help Americans that need help right now just like we helped businesses, small businesses, during the pandemic," Cardona replied. "You know, it's about making sure we're taking care of Americans and investing in our economy and in our people."

Doocy reiterated, "But just the final on this: the people that already paid their student loans, they don't get anything out of this deal."

READ MORE: Donald Trump Jr. calls student loan forgiveness 'a slap in the face'

Watch below or at this link.

READ MORE: Watch: Joe Biden announces student debt forgiveness and loan repayment extension

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