(DCNF)—Fox Business host Charles Payne tore into people taking advantage of the Biden administration’s decisions to defer or forgive student loans Monday, saying it was time to “pay your damn student loans.”
The Department of Education announced it would resume collections on delinquent student loans, ending a pause from the COVID-19 pandemic that the Biden administration sought to continue, The Hill reported. Payne expressed little sympathy for claims that forcing borrowers to repay student loans would cause them financial hardship.
“I’m thrilled. These are the most pampered elitists. The educated elite in this country have, I mean, it’s ridiculous. It’s absolutely ridiculous,” Payne told “Fox and Friends” co-host Brian Kilmeade. “You know, the jobs report came out on Friday. So, unemployment for someone with a bachelor’s degree? The unemployment level is 2.5%.”
“If you just have less than high school, it’s 6%. If you have high school, it’s 4%. Double the unemployment for high school grads, they make over million dollars more in a lifetime,” Payne continued. “Their kids live in better neighborhoods. They don’t face crime, poverty, worries or concerns, okay? There’s 7.2 million job openings right now. Take one! Take one! Oh, wasn’t what you studied for? Too bad, take one! That’s what the average person does!”
Despite a Supreme Court ruling that struck down an effort to forgive student loans in a 6-3 ruling in June 2023, then-President Joe Biden repeatedly attempted to continue forgiving the loans. In August 2024, the Supreme Court refused to lift an appeals court’s order blocking a Biden administration effort to forgive student loan debt, which it proposed following the 2023 Supreme Court decision that struck down a different student debt forgiveness proposal from Biden.
“We have coddled these folks. We have created a caste system in America,” Payne said. “We have a caste system. We have put the elites above us, and we keep, how many people have no money in the stock market? Did you see the stock market under Trump? You never cared about it before! You said it was for rich people! Why are you letting the elites dominate us? Why is a cab driver taking his money to pay your student loan? Your kids are going to have a better life! What the hell is wrong with this country? Pay your damn student loan!”
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If the student defaults, make the University pay the money back. They provided a faulty product or service, and we the taxpayers are demanding a refund.
I have a small student loan and I’ve been paying it all along. I just have them take it out of my bank account every month.