'Dr. Phil' Audience Discusses Biden’s Student Relief Plan

President Biden recently announced a three-part plan to provide more breathing room to America’s working families as they continue to recover from the strains associated with the COVID-19 pandemic. This plan offers targeted debt relief as part of a comprehensive effort to address the burden of growing college costs and make the student loan system more manageable for working families. The Education Department has indicated that around 8 million federal student loan borrowers who already have their income information on file with the Department will be eligible for automatic student loan forgiveness. However, this announcement kicked off a nationwide debate. Supporters praised the act as a landmark move to wipe out millions of student loan debt, while critics say the plan will increase inflation and does not address the underlying problem of soaring higher-education costs. Dr. Phil speaks with people on both sides of this issue. Inez Stepman, senior policy analyst at Independent Women’s Forum (IWF), says it’s not fair for taxpayers to be stuck paying someone else’s debt. Economic Physiologist and Professor Charlie Eaton says loan cancellation will be life-changing for low/moderate income students. Neal McCluskey, director of CATO Institute, Mark Kantrowitz, policy expert, Holly Taylor, an attorney whose video of her student loan outrage went viral, and James Cowart, a college graduate who says he will benefit from Biden’s student loan plan, weigh in on the debate. Is Biden’s plan raising living standards or adding fuel to inflation? Helping lower-income Americans or supporting the rich? You won’t want to miss this episode! (21024)

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[TTUMom]

I paid my own student loans. Why should I pay someone else’s?

[the-finn]

Instead of forgiving the entire student loans, forgive the interest charges on these loans, never apply interest charges ever to a student loan. When that student graduates give them a grace period and allow them to pay it back by gearing it to their income. That way 1 group isn't stuck paying for this and students will pay off their loans quicker while helping them build credit. To me it's a win, win. It's also just my opinion.

[michellepotts]

Taxpayers will be on the hook for this.

[laurenleclaire]

my wife just graduated with a BSN in nursing with 8k in debt. WE will pay this not look for hand outs.

[charliecostella]

Colleges are going to do the same thing the car industry did when they gave him $7, 500 tax credit to buy a certain car they just raised the price by that much the next day duh

[monacallender]

If I were a banker and anyone of those people who received taxpayer money paying their student loans off. I would not loan any money to any of them. Because they do not hold their contracts. They can’t be trusted.

[monacallender]

No one forced these people to BORROW and sign a contract promising to pay it back and then getting it paid off by the tax payer.

[bbygrl]

Why are every other American being responsible to pay for the stuff when we either didn't go to school or managed to pay off our own loans? Your poor decision isn't my problem.

[thompsona]

Nothing is free in this world, you work hard to get what you want, the student loan forgiveness will bite everyone back when the government comes back to collect. Not only that I see all these college students who get their degree and have no common sense what so ever of how the world works, some of these students have not even worked a retail or fast food job to make any kind of money. Taking away the urgency to pay back loans is going to cause more problems than it will to help with the dept.

[patburt]

I started college in my 50's and honestly the money charged was not worth the education. I could have done the same job with "hands on training" ...if I could turned back time, i would not have gone.😢

[gracecambron]

What about people going to college now? They will expect it too!! Just NOT fair!!

[ztsmgoi]

In my personal opinion there's only one way to actually fix the problem. Everybody still continues to pay on the student loans that they took out. And instead of some ridiculously insane move by the current president to have student loan forgiveness which would just displace the debt to us, he should have student loan INTEREST FORGIVENESS. But of course he wouldn't do that because his friends wouldn't continue to make billions and billions of dollars. Interest forgiveness just goes back to the banks that means they don't make money on offering education other than the agreed fee. I think that's the only way to fix both sides. The taxpayers don't inherit any debt from a completely horrible presidential decision and the banks don't make 10 trillion dollars for a few months. It's a win-win.

[maryjankowski]

Where's my money that I paid to go to college and the money I worked hard for to pay for my son to go to college...Give me that money back... while the administration is at it I signed for my car, why not forgive me for that debt...

[FallenAngel-heko]

Can you please ask homeless ppl on the street what they think about it.

[YoMateo.]

Whoever's reading this, i pray that whatever you're going through gets better and whatever you're struggling with or worrying about is going to be fine and that everyone has a fantastic day! Amen

[ReggyGDI]

Student death is not normal in the EU.
€3000 per year in Ireland but only if you family is making over €100, 000 a year.
If you were out of work for 6 months and over 21 college is free.
I'm in 4 year & have zero death.
In fact the government pay me €200 a week to go to college (if over 21) & I'm allowed to work 20 hours a week on top of that (min wage in Ireland is €11).
Every student in the US should protest to make things better.
Health care death is also not normal as health care is also free in Ireland.
But that is for another day.

[KingSkrap]

2:34 bro fr went to school for acting and said college isn’t necessary 🤦‍♂️

[russrogers]

Why is a 'content creator' being asked for her opinions?

[gracecambron]

Pay my house off then...I couldn't afford a college education to get a degree so if student loans are going to be paid off then pay my house loan off!!!

[marid]

Why should I pay your debt when I paid mine