Purdue University President Daniels Says Biden’s Regressive Student Loan Plan Is ‘Fatally Flawed’

Transcript:

DANIELS: “Becky, this — this dead fish isn’t smelling any better the older it gets’. One reason this has taken so long for the administration to say something about it is they know it’s fatally flawed. You know, this is — this is another very regressive suggestion. They’re going to give money to people making three times the national median average, in household case four and a half times, 71 percent of the money goes to the top half of the income distribution. This — there’s just no way to present this that it isn’t a giveaway to people who don’t need it, and who, you know, freely took these obligations on. Of course, I believe that an equal unfairness is to all those millions of people who paid their debts back, 99 percent of our graduates at Purdue do pay them back, not sure what I’m supposed to tell them when other people were let off the hook. So, I think that among its other defects, the gross unfairness of this is the worst. Here we’re supposed to be concerned about income inequality and so forth and this heads just the wrong direction.”

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