When President Joe Biden announced $10,000 of debt cancellation for those making less than $125,000 a year, his advisors probably told him he was buying the votes of young, college-educated voters. What that overlooks, as the New Yorker tells us, is those aging student debtors of America who still have student loan debt dogging them after decades. Washington Post columnist Megan McArdle recently posted a thread on how she was able to pay off $100,000 in student loans while working on a journalist’s salary, and if she could do it, others could as well.

Way back during the Democratic primary debates when candidates were all campaigning on forgiving student loans, CNBC did a sympathetic piece on a woman with $500,000 in student loans for her master’s in acupuncture and doctorate degree in naturopathic medicine. (You can get a doctorate in “naturopathic medicine?”) Candidate Bernie Sanders’ senior policy advisor, an associate professor of sociology, tweeted that she had $180,000 in student debt. How does one rack up a half-million dollars in student loans?

The New Yorker is now coming to the rescue of those older debtors, profiling a woman who at 91 still owes $329,309.69 on a $29,000 loan. She went back to school because she was frustrated by the inequity in her public school classrooms, so you’re supposed to feel extra bad for her.

We know this story is supposed to make us feel bad for her and to support even more student debt cancellation, but it doesn’t.

Editor’s Note:
 
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