Nineteen members of the US House of Representatives have written a letter [PDF] to President Joe Biden and Secretary of Defense Lloyd Austin cautioning that the partial cancellation of student debts can have the unintended consequence of reducing military recruitment in the United States.
The letter reads as follows:
Dear President Biden,
We write to you to share our concerns about the unintended consequences of your decision to cancel up to $20,000 of student loan debt per borrower. We are particularly concerned about the negative impact this will surely have on our nation’s military and their ability to recruit and retain top talent.
As you know, some of the most successful recruiting incentives for the military are the GI Bill and student loan forgiveness programs. The idea that the military will pay for schooling during or after completion of a service obligation is a driving factor in many individuals’ decision to join one of the services. A recent estimate showed that as many as 178,000 servicemembers were eligible for some type of forgiveness.
By forgiving such a wide swath of loans for borrowers, you are removing any leverage the Department of Defense maintained as one of the fastest and easiest ways to pay for higher education. We recognize the loan forgiveness programs have issues of their own,