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The Onion Fact-Checks Claims About Student Loan Debt

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President Joe Biden’s plan to forgive up to $20,000 of some Americans’ student loans has inspired widespread political debate. The Onion fact-checks claims about Biden’s plan and student loan debt in general.

CLAIM: Student loan forgiveness will cause inflation.
REALITY: No one knows what causes inflation.

CLAIM: There are better ways this money could be spent to help people.
REALITY: True, but Democrats lack the political capital to give every American an above-ground pool.

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CLAIM: You don’t pronounce the “b” in “debt.”
REALITY: This is false. The proper pronunciation puts a strong emphasis on the “b” sound.

CLAIM: Biden supported the 2005 bankruptcy bill that made the student debt crisis exponentially worse.
REALITY: True, but also 10k is 10k.

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CLAIM: I worked my way through college.
REALITY: Sure you did.

CLAIM: This will make universities raise their tuition.
REALITY: Institutions that charge $70,000 per year already have dozens of other rationales for raising tuition primed and ready to go.

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CLAIM: If Biden wanted to, he could single-handedly forgive all student loan debt.
REALITY: The only man who can provide total forgiveness is Jesus Christ.

CLAIM: The cost will be largely borne by the wealthiest Americans.
REALITY: America will never ask the wealthy to do anything they don’t want to.