Antony Davies

The Student Loan “Forgiveness” Scam

by Antony Davies | Oct 10, 2022 | Featured Articles

"Forgiveness” is such a kind word that it’s no wonder politicians latched on to it to describe the extremely unkind thing they’re doing to us. Recent discussions on social and mainstream media reveal that the typical voter is not only confused about what “loan forgiveness” means, but (disturbingly) also confused as to what “loan” means. Myth #1: Student loan forgiveness doesn’t cost taxpayers anything because the loaned money has already been spent. Yes, the money has already been spent. But that’s not where the cost occurs. Suppose that a student was supposed to pay back $10,000 five years...

Antony Davies is the Milton Friedman Distinguished Fellow at the Foundation for Economic Education, and associate professor of economics at Duquesne University. He has authored Principles of Microeconomics (Cognella), Understanding Statistics (Cato Institute), and Cooperation and Coercion (ISI Books). He has written hundreds of op-eds appearing in, among others, the Wall Street Journal, Los Angeles Times, USA Today, New York Post, Washington Post, New York Daily News, Newsday, US News, and the Houston Chronicle. He also co-hosts the weekly podcast Words & Numbers. Davies was Chief Financial Officer at Parabon Computation, and founded several technology companies.

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