Dan Lokert, a personal finance expert, has criticized Biden’s student loan distribution, arguing it will hurt the U.S. economy and colleges across the country.
In an interview on Thursday’s “Mornings with Maria,” personal finance expert Dan Lockert discussed President Biden’s action plan to combat student loan debt, which would only raise tuition and inflation. , thus further depleting the U.S. economy.
Dan Lockert: …Good politics may be, but bad economy certainly is. So it’s hard to say exactly how much the tuition will increase, but the estimates I saw this morning put him somewhere between 0.1. 2% would be an overall increase in inflation. But here is the deal. Not all universities are the same. Many of them focus on value. I happen to work for a company that puts a lot of time and effort into focusing on value and results. Good stuff. Unfortunately, not all of them exist. Universities are essentially mass-producing students To make matters worse, enroll a student who will never be expelled, Maria.
You know a third of student loan holders don’t have a degree, right? And it’s really bad. However, some universities also produce large numbers of underemployed students, in many cases. right.According to a Federal Reserve study 20% of recent graduates are underemployed. They have basket weaving degrees that cost hundreds of grands, but they make lattes. That’s really the underlying problem. Even at the university level, we have to have more accountability. And this bill, or sorry, this action by the President, will not do that.
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Read the full interview here:
Personal finance expert Dan Lockato looks at President Biden’s latest student loan handout and predicts how it will affect the U.S. economy in “Mornings with Maria.”