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Biden talks confronting the rich as he enriches super-rich school endowments with a loan scheme

On Monday’s broadcast of the Fox Business Network’s “Evening Edit,” Rep. Beth Van Duyne (R-TX) slammed President Joe Biden for attacking big corporations while his student loan program incites the tuition hikes by universities with gigantic endowments and argued that if schools are graduating students without teaching them skills that can help those students find jobs, “taxpayers’ money should not be the alone at risk. They should risk some of their endowment to help pay for it.

Van Duyne said, “I like the way he talks about super-rich corporations. There are universities right now with multi-billion dollar endowments that still aren’t using those endowments to look to the future…the success of their students.

She added, “[T]there is no incentive for universities not to increase their tuition fees. … But we have to figure out how to tie the dollars they receive for federal investments into their endowments. And we are in the process of drafting legislation right now that would do just that. If it’s students graduating after four years who can’t find jobs because they aren’t teaching them marketable skills, taxpayers’ money shouldn’t be the only one at risk. They should risk some of their endowment to help pay for it.

Van Duyne concluded, “People who do the right thing under this administration get punished and people who do the wrong thing profit, and we need to stop that.”

Follow Ian Hanchett on Twitter @IanHanchett

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