Wage growth isn’t enough to combat rising college costs, according to Ron Meyer, political analyst and former Red Alert Politics editor. During a segment on “Your World with Neil Cavuto” on Monday, Meyer touted the idea of student loan forgiveness in conjunction with deferring social security.
“We’ll forgive you now if you pay us back later with your social security. I think that’s a decent compromise,” he stated. “But even that needs to have strings attached because otherwise, universities are going to continue to raise their costs, push it onto students, push it onto taxpayers, push it onto parents.”
Meyer, the current director of business development at MediaDC, parent company of the Washington Examiner and Red Alert Politics, discussed education reform on the Monday program, referencing the Student Security Act, H.R. 4584. The bill, sponsored by Rep. Tom Garrett, R-Va., and introduced earlier this month, would allow for loan forgiveness through social security deferment.
Meyer warned about the risk of full-blown student loan forgiveness that many students are championing on campuses across the country.
“If you do [student loan] forgiveness, really the next thing is free college,” Meyer said, referencing the slippery slope that comes with loan forgiveness.
The host, Lauren Simonetti, asked if higher wages could help workers pay off student loan debt, but Meyer pointed out that tuition is skyrocketing two or three times that the rate of inflation.
“We need fundamental change in higher education … this should be a top agenda priority for next year,” he said.
“This issue is a winner for the president and a winner for young Americans," Meyer told Red Alert Politics. "Student loan reform needs to be a top priority next year, and Congressman Tom Garrett’s bill is a perfect place to start.”