Omar Claims Student Loan Debt ‘Is Not the Result of Bad Choices,’ Drafts Bill With Sanders to Forgive Loans

Rep. Ilhan Omar (D-Minn.) claimed that student debt is not the result of poor financial planning but rather the fault of stingy Wall Street workers who don’t want to foot the bill.

Omar, along with Sen. Bernie Sanders (I-Vt.) and Reps. Pramila Jayapal (D-Wash.) and Alexandria Ocasio-Cortez, (D-N.Y.), held a press conference on their proposed legislation that would cancel the student debt of as many as 45 million Americans.

In total, Sanders’ bill would cover $1.6 trillion in student loan repayments for students who took on debt to get their degree. This repayment would be made by placing a tax on stock, bond, and derivatives transactions, which could rake in as much as $2.2 trillion over 10 years.

The bill does not address the ever-rising costs of tuition at universities, instead only focusing on the debt that exists today.

During the press conference, Omar said that student loans are not the fault of poor borrowing decisions. Rather, it’s the fault of society for encouraging students to go to school without a plan to pay for it.

Watch Omar’s comments:

“We are told by some politicians that this debt is our fault, that if we want to achieve the American dream, we have to lift ourselves up by our bootstraps. Well, we’re here today to say that student debt is not the result of bad choices or behavior. It is the result of a system that tells students to get an education and go to college in order to have a stable life but then does not provide the resources to afford that education.”

Several people took to Twitter to criticize Omar’s plan, with many noting that this is a bailout for students who made irresponsible borrowing decisions, while those who opted not to go to college or worked to pay back their loans get nothing.

Sen. Elizabeth Warren (D-Mass.) has her own proposal to help students pay back their loans, though it is nearly $1 trillion cheaper than Sanders’ plan.

As IJR previously reported, there are a whole host of reasons why paying off student debt without addressing the rising costs or poor borrowing practices could backfire.

What do you think?

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Joey
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Joey

They once more called my comments spam because I disagreed with Bernie and Omar.

j
Member

So if I just paid a $260,000.00 student debt will I get a refund, or let me call it “reparations” from the government?

Pat Warnock
Member

If the students don’t take job-ready courses then their bad choices must be paid by them

william jackson
Member

Socialist D-RATs

Frank Turner
Member

She should have gone to college so she could be a complete IDIOT!!!

Bev
Member

Who ends up paying for the loans? You Omar? Or how about Bernie? You on the left have no problem giving away American tax payers money, this is wrong and you have to know it! Every bill you clowns think up, takes big money and I for one do not want to pay for something I did not benefit from. If you can talk the college institutions into forgiving student debt, then good on ya. Good luck because their fees just keep going up and up, they are not going to allow for free college tuitions. Go ask your daddy,… Read more »

David
Guest

The Federal Government took over all student loan issuance in 2010, effectively removing any open market economics. Subsequently, the cost of college and student loan debt skyrocketed as an indifferent Federal Government provided unlimited loans to terribly unqualified borrowers while Universities laughed all the way to their coffers. If anyone deserves to have a hand in paying back these usurious loans, it is the Universities with their massive endowments and irresponsible cost/value educational outcomes. The top 10 Universities have more than $200 Billion in Endowments. Just saying, probably not the plumbers that should bail these folks out.

Dave Hardesty
Member

Why do liberals not see that many times there are 2/3rds of Freshmen entering college end up dropping out in their first year of college? Because, unlike High School, colleges don’t care if you attend class or not because the tuition to them is already paid. Mainly, the default on student loans is due to the poor choices of the student who parties hearty once away from their parents and because they are failing they just drop out and want to stick the bill on others for their own mistakes.

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