GOP Congressional Candidate Proposes Student Debt Fix in Exchange for Immigration Reform
Pete D’Abrosca, the insurgent Republican congressional candidate in North Carolina’s 7th district, has announced a plan to work with Democrats to reform the student loan system in the United States in exchange for cooperation on border security.
“To be clear, we are not going to cancel student loans at the taxpayer expense, as Democrats have proposed,” D’Abrosca said. “Instead, we are going to work across the aisle and strike a deal with the Democrats to reform the student loan system on the condition that they agree to a moratorium on immigration, and deporting illegal aliens who cost taxpayers billions every year.”
D’Abrosca sees the issues of student debt and immigration as related. According to his campaign, because the United States' birth rate is below replacement levels and young people are too indebted to get married, buy homes, and have children, bringing in immigrants to replace Americans is the only solution the political elites in Washington, D.C., have come up with—which has caused the immigration crisis.
The federal government controls over 90 percent of all student loans, and federal student loans have been shown to increase tuition costs well above the rate of inflation.
“If Democrats are willing to get serious about border security, I am willing to help them tackle one of their keynote issues,” D’Abrosca said. “My plan for student loan reform includes four elements. We will make some student loans dischargeable in bankruptcy, mandate that universities co-sign student loans, freeze interest on student loans after five years of income-driven repayment, and discharge remaining loan balances after 15 years of income-driven repayment.”
His campaign notes that universities reap all of the financial benefits of the federal student loans, but bear none of the financial risk if their degrees turn out to be worthless. D’Abrosca believes that if universities are invested in the success of their students it would help solve the problem. As for the immigration aspect of his plan, D’Abrosca believes that “deporting illegal aliens and closing the borders will more than cover the discharge of student loans after 15 years of repayment, meaning that taxpayers will bear no additional burden in solving the student loan crisis.”
“Student loan debt is a $1.5 trillion bubble waiting to burst,” D’Abrosca says. “When it bursts – and it will – taxpayers, not the education lobbyists and D.C. elites who have created this problem, will be forced to bear the burden, as they always are. Instead, we have an opportunity to solve two massive problems facing American society at no extra cost to taxpayers by implementing this plan.”
Are Democrats really interested in solving either of these two problems? I'm doubtful.
Matt Margolis is the author of Trumping Obama: How President Trump Saved Us From Barack Obama's Legacy and the bestselling book The Worst President in History: The Legacy of Barack Obama. You can follow Matt on Twitter @MattMargolis