My generation has a political problem. We are looking to quick solutions to the massive problems plaguing our country. Not surprisingly, the generation raised on instant gratification seeks the same in politics and government.
In no other area is this more evident than the student loan crisis. Rather than targeting the root of the problem with federally subsidized student loans, President Joe Biden has instead proposed a band-aid solution of wholesale cancellation of student debt in order to score a cheap political victory with America’s youth.
During the 2020 election campaign, candidate Biden defended his plan to “immediately cancel a minimum of $10,000 in student debt per person.” This empty promise seems to have worked the first time, as he received 65% of the Gen Z vote, compared to Trump’s 31%.
So is it any surprise that Biden’s promise to eliminate student debt has become one of his administration’s major policy moves? That may be why 77% of voters ages 18 to 29 said student debt relief was a motivating factor for their participation in the midterm elections.
Gen Z’s support for Biden’s student debt plan is infuriating
On the issue of student loans, Gen Z largely favors comprehensive debt forgiveness, similar to the plan proposed by Biden. Nearly 60% of people born in 1997 or later support the plan, which has since been struck down by the Supreme Court, compared to just 46% of all voters in swing states.
Exasperatingly, that same Bloomberg News/Morning Consult survey finds that Gen Z is far less informed about the details of the plan than other generations, with 42% saying they’ve heard “not much” or “not at all” about the plan. , compared to with just 30% of all other voters in swing states.
Why I don’t vote: I’m not voting for Trump or Biden. Do you want my vote? Choose better candidates.
I struggle to find a term to describe my generation on this issue other than “entitled.” Not only are we largely in favor of other people paying off our debts, a majority of whom do not have a bachelor’s degree or higher, but we don’t even have the decency to be more aware of the problem than generations who are more likely to do so. have already repaid their loans.
A sobering truth for young Americans needs to be heard. You have no right to demand that other people pay for your poor financial decisions.
Gen Z should push Congress to find a long-term solution
Biden’s plan was not only reckless, but also unconstitutional at its core, as the Supreme Court highlighted when it struck down the plan last June. While I think this course of action is reckless and immoral, Gen Z has a better chance of getting debt relief through Congress, which is responsible for power over finances.
Generation Z is not going to disappear: Don’t believe the narrative that Gen Z will vote for Biden. My generation is up for grabs.
Blanket forgiveness does nothing to combat the problem of the student loan crisis. In fact, it would only serve to further incentivize students to attend colleges they cannot afford, earning degrees that give them little chance of repaying the debt they accrued over the years. during the process.
Congressional efforts are much better directed toward legislation restricting the federal student loan programs that got us into this mess in the first place.
The problem is the federal government’s involvement in student loans
Our government’s involvement in the student debt crisis is clearly unacceptable. Federal loan programs now provide aid to the vast majority of students.
A 2017 study from the Federal Reserve indicates that for every dollar of federal student loans an institution receives, it is able to increase the cost of education by 60 cents.
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At a time when 37% of graduates report being unable to make monthly loan payments, a short-term solution like forgiveness will do nothing to prevent future generations from suffering the same fate. Young voters should look to other methods to influence their vote for real change on the issue, not false promises aimed at corrupting them.
Gen Z should focus their efforts on voting for candidates who promise real change on the issue, or better yet, who take personal responsibility for financial decisions. Understanding your financial decision in going to college, rather than blaming politicians for not stealing other people’s money to pay off your debt, is a much better use of your time and will lead to better outcomes for your future.
Dace Potas is an opinion researcher for USA TODAY. A political science graduate of DePaul University, he is also president of the Lone Conservative, the nation’s largest conservative student publication..
You can read various opinions from our committee of contributors and other authors on the front page of Opinion, on Twitter. @usatodayopinion and in our daily Opinion newsletter.
This article originally appeared on USA TODAY: Gen Z wants to end student debt. You don’t get off that easy
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