Trump Education Official Quits, Says Govt Should Forgive “Fundamentally Broken” Student Loans

A top official for the country’s federal student-loan program has resigned and is endorsing canceling most of the country’s outstanding student debt.

Calling the system “fundamentally broken,” A. Wayne Johnson – appointed in 2017 by Education Secretary Betsy DeVos, says that repayment trends suggest most student loan debt will never be repaid, according to the Wall Street Journal.

His solution? Forgive up to $50,000 for anyone with federal student-loan debt, which would amount to a bailout of approximately $925 billion. The plan would wipe out the debt of nearly 37 million borrowers. He would also advocate for a tax credit for up to $50,000 for people who have already repaid their debt.

Omar’s menacing message hidden in seemingly innocent tweet exposed: ‘Crushed the enemy’

Haley Stevens ripped by fellow Dems for refusing to explicitly back El-Sayed: ‘Stay the f— off television’

WJ Straw Poll: Rubio Opens Massive Lead Over Vance as Massie Takes Another Hit

Winning: Violent Crime Plunged Nationwide During Trump’s First Year Back in Office

Voice of Bugs Bunny and Daffy Duck Dies Suddenly at Age 46

Trump-appointed judge slams door on DOJ as court losses pile up days ahead of midterms

Ilhan Omar joins ‘polarizing and dangerous’ streamer at campaign event despite Democratic backlash

Bull rider’s final ride turns deadly when beast throws him off and stomps on his chest

Singer Alters National Anthem Lyrics Before NFL Game to Send Pro-Immigrant Message

Watch: Ilhan Omar, AOC Unexpectedly Show up on Football Fans’ TVs, Making Racist, Anti-White Comments Many Voters Had Never Heard

Alaska Dem Senate candidate suffers minor injuries in car crash, forcing her to skip campaign events

Obama’s Saddam Hussein Jab at Trump’s Ornate WH Backfires as Critics Point Out He Built a ‘Wizard Prison’

Johnson, who has a doctorate in higher-education leadership and wrote his dissertation on student debt, was initially given the role of chief operating officer for the Office of Federal Student Aid, which oversees the country’s $1.5 trillion student-loan portfolio. After seven months, he transitioned to chief strategy and transformation officer, where he spearheaded a revamp of how the agency interacts with borrowers and companies that service the debt.

“We run through the process of putting this debt burden on somebody…but it rides on their credit files—it rides on their back—for decades,” he said, adding “The time has come for us to end and stop the insanity.”

Mr. Johnson said he arrived at his position to cancel student debt after he joined the administration and had a firsthand look at problems, including the high level of defaults and the difficulties of administering a program to erase loans for public-sector workers.

Mr. Johnson plans a long-shot bid for the Senate seat being vacated by Sen. Johnny Isakson (R., Ga.), who has announced he will retire Dec. 31 for health reasons. Georgia Gov. Brian Kemp, a Republican, is set to appoint an interim senator until a special election next year for the remaining two years of Mr. Isakson’s term. –Wall Street Journal

Johnson, who describes himself as a moderate Republican, has proposed a paying for the plan with a 1% tax on corporate earnings. The proposal would effectively reverse a late 2017 tax cut by the then-GOP controlled Congress.