It’s time to flip the script on student loan bailouts. Here’s how to make schools pay up

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After his first attempt at large-scale student loan forgiveness produced a last-minute surge of young voters to the polls in the 2022 midterms before it was struck down by the Supreme Court, President Joe Biden is trying the same trick again in 2024. In swing state Michigan on April 8, the president unveiled another plan to unilaterally reduce or eliminate the loans of 23 million undergraduate and graduate borrowers. 

In announcing what is now a third round of student loan forgiveness after a more minor middle attempt, the Biden administration is performing a cynical dance for young voters: vote for me now and blame the courts when this latest gambit to avoid Congress pulls the rug out from under them. But because Republicans have advanced no serious alternative that addresses the growing student loan crisis, the oldest demagogue trick in the book is likely to succeed. 

The student debt crisis is very real — $1.7 trillion and counting — and derives from a simple truth: the value of a college degree has not kept up with the skyrocketing cost of tuition. College costs have soared well above already-inflationary middle-class staples like health care and

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