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Fox Business host Larry Kudlow sounded off on President Biden's plans to enact a $300 billion student loan handout, saying the move is to bolster Biden's poll numbers Wednesday on “Hannity.”
LARRY KUDLOW: This was Obama’s brainchild to stop banks and private lenders from making student loans where they do know something about credit risk and give it over to the Education department. That’s where the $1.6 trillion dollars in student loans have gone. They should stop this. And take it away from the educrats and put back into the private sector and let people pay a market rate and if that happens, these outrageous college tuition increases influence would probably simmer down pretty fast.
STUDENT LOAN HANDOUT: WALL STREET JOURNAL ROASTS BIDEN'S ‘INFLATION EXPANSION ACT’
The short answer is you shouldn't. I mean this is election vote-buying. That's all this really is, trying to bolster up I guess Biden's sagging numbers, Democratic Party's sagging numbers on young people. But it will not work because there is a big resentment. People know basically what you just said, I mean look, way back I had to take out some loans for graduate school, but I did pay them back. Most folks honor their obligations. This idea of student loan default is relatively new. Interest rates have been in rock bottom for the last few years, still didn't cover the loans properly. So let’s stop this.
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