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Readers Respond

Student loan bailout a slap in the face | READER COMMENTARY

President Joe Biden announces student loan relief on Aug. 24, 2022, in the Roosevelt Room of the White House in Washington, D.C. (Olivier Douliery/AFP/Getty Images).

I am among the other 200 million-plus taxpayers who resent our taxes going to pay legitimately incurred student loans (”Making college affordable will take more than Biden’s loan-forgiveness plan,” Sept. 23). My wife and I sacrificed and saved for 18 years for our children’s college. And our children worked all four years to help with expenses.

A large percentage of the existing student debt is from graduate school. If you are smart enough to go to grad school, you should be smart enough be able to repay a loan, especially if you went to Harvard Law. If the university misled about your future compensation, discuss it with the school, not with taxpayers. Also, as repayments have been delayed, the cost to repay loans has decreased. Paying back with current dollars gets cheaper every day because of inflation.

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People who were prudent and sacrificed and saved for retirement are being seriously impacted by inflation caused by excessive government spending. People, primarily seniors, trying to live on a fixed income are being destroyed by inflation. Retirees seldom have the ability to return to the workforce (and it’s hard for us to believe that inexperienced workers make $15 per hour when we started at closer to $1 per hour). How can anyone who tried to prepare for retirement support the current administration?

More and more Americans are being forced to depend on government support for daily survival. Some people believe that this is exactly what the governments wants.

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— D. Burke, Timonium

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