- President Biden unilaterally forgave billions of dollars in student-loan debt – a bailout criticized by both Republicans and Democrats.
- That move is likely to have the unintended consequence of driving up college tuition prices.
- “Historically, 60% of all student aid increases have been captured with tuition hikes, and this will be treated like an increase in student aid moving forward, which suggests that 60% will be countered by tuition hikes,” said Brian Riedl of the Manhattan Institute.
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