DeSantis Opposes Blanket Student-Loan Forgiveness but Champions Bankruptcy Option

Florida Governor Ron DeSantis is vocal about his skepticism concerning widespread student-loan forgiveness, while he stands behind the idea of bankruptcy as a potential recourse for those encumbered by unpayable student debt.

by Faruk Imamovic
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DeSantis Opposes Blanket Student-Loan Forgiveness but Champions Bankruptcy Option

Florida Governor Ron DeSantis is vocal about his skepticism concerning widespread student-loan forgiveness, while he stands behind the idea of bankruptcy as a potential recourse for those encumbered by unpayable student debt.

The Declaration of Economic Independence

On a Monday announcement, DeSantis revealed his "Declaration of Economic Independence," a comprehensive economic blueprint he intends to execute if he wins the presidential election.

The plan is underpinned by 10 robust pillars designed to fortify the economy and reinforce the middle class. During his remarks, DeSantis shed light on his sixth pillar which is aimed at overhauling the education system, with a special focus on lowering barriers of entry for blue-collar workers.

He expressed his concern about the previous generation of students sinking deep into debt, sometimes for degrees with questionable job prospects. "The reality is we've had a generation of students go deep into debt, and some of them end up with degrees in things like zombie studies, which are just not making a difference," DeSantis said.

Shifting the Burden of Debt

Governor DeSantis was unequivocal about his position on the responsibility of taxpayers in bearing the brunt of student debt. He argued against the notion that working-class individuals should have to shoulder the financial obligations of those who pursued studies in less lucrative fields.

"It's wrong to say that a truck driver should have to pay off the debt of somebody who got a degree in gender studies. This is not the taxpayers that should have to do that," he contended. However, he also expressed empathy for the students who he believes were misguided into taking on enormous debt, pointing the finger of blame at universities for exploiting federal loan money.

A Call for Bankruptcy Protections

As federal student-loan payments are scheduled to recommence in October following a hiatus of over three years, lawmakers such as Senator Elizabeth Warren of Massachusetts are pressing for the availability of bankruptcy as a legitimate option for those struggling with unmanageable debt.

She wrote: "This updated guidance is designed to allow the DOJ and ED to facilitate the objective of more discharges and provide hope for borrowers seeking bankruptcy as a viable pathway to financial freedom."

Ron Desantis
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