Mike Rowe: Is loan forgiveness going to nudge universities to drop tuition cost?
How America Works’ host Mike Rowe discusses his views on Biden considering an executive order to drop up to $10K from college loans on ‘The Five.’
Mike Rowe hit back at President Biden's consideration to cancel student debt up to $10,000 on "The Five" Monday, saying "it's not going to do anything" to push universities to lower tuition rates.
MIKE ROWE: I'm happy to forgive the loan. Yes. You still have to pay it back. No, this makes me crazy. My foundation focuses on work ethic scholarships, and we award those scholarships to people who affirmatively don't want to purchase a four-year degree. They want to be trained plumbers, steamfitters, pipefitters, electricians, so forth. We've assisted 1,400 people. We've given away about $7 million in work ethic scholarships. And when I hear this story and when I see it framed out, what I hear is the government asking those people to pay specifically for the degrees that have been purchased at an incredible multiple with impunity. I mean, it's breathtaking to me. These people, many of them have work trucks and they have $40-$50,000 worth of tools that they borrowed to get. And nobody anywhere ever talks about forgiving that, including me. Because personally, look, you bought it; fgure it out. And so it gets real personal, real fast. And I always come back to the same question, which is: Is forgiving the loans going to do anything to inspire, motivate or otherwise nudge the universities to drop the cost of tuition?
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