Conservatives think that canceling student loans will do no good. They called it 'regressive, inflationary, expensive and would likely do more to increase the cost of higher education going forward than to reduce it'.(The Guardian)
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‌Forbes has recently said that  “Canceling federal student loans will cost the federal government hundreds of billions of dollars – and it’s the general public that will eventually end up footing the bill.” The author goes on to suggest that this “cost” imposed on taxpayers could threaten vital social programs like free and reduced lunch or any future hope of universal pre-K or guaranteed parental leave."
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‌The bill will be a burden to taxpayers at the cost of programs like Medicare or social security. In this time of inflation cutting down student loans might not be a good idea and maybe government needs to slow down.