Why Comparing Student Debt Forgiveness to PPP Loan Forgiveness is an Asinine Comparison

Last article of the day

Author’s Note: I should note I am not a supporter of PPP loans or their forgiveness. I saw all the waste and embezzlement. It was disgusting. But there’s still a key difference.

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Just a small thing real quick. I’m seeing a lot of people asking why student loans could not be forgiven while PPP loans could.

Well, there are two major differences that make the two wildly different.

But first, let’s be clear about what the Supreme Court said. They did NOT say student loans could not be forgiven. They said it has to be done by Congress. The President alone does not have the power. That’s it.

So if you want your loans forgiven, get Congress to pass a law. That’s how this country works.

And that’s why many PPP loans were forgiven. Forgiveness was part of the law that was passed, bipartisan I might add.

Additionally, as someone else pointed out, the businesses that got PPP loans were forced to shut down by the federal government, which kind of means morally the federal government should do what it can to keep them alive.

But there’s a very clear, legal difference between Student Debt Forgiveness and PPP loans. One went through Congress, the other did not.

So, want student loans forgiven? Get Congress to do it. We live in a nation of laws and separation of powers. It’s why we don’t have a dictator. There’s absolutely nothing stopping Congress from not just forgiving $10,000 but the full balance of every student loan in America.

So stop whining and understand that laws require Congressional approval.