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.

WATCH: Hearing turmoil as Jasmine Crockett unloads on MLK’s niece in wild racially-charged rant

Nancy Mace Announces Next Career Move After Losing South Carolina Gov. Primary

Karmelo Anthony isolated in jail as track meet killer appeals conviction, preps for prison stint

Video: Infuriated by Immigrant’s Attempted Beheading, Irish Citizens Set Fires Across Belfast

Obama-appointed judge with ties to anti-Trump conspiracy theory hit with misconduct complaint

Pregnant mother found murdered in Mexico as frantic search for missing children ends with surprise discovery

First on Fox: Trump admin opens new front in fraud crackdown targeting health insurers, drug middlemen

God Help Us: Donations Continued to Roll in for Karmelo Anthony After He Was Convicted of Murder

GRAPHIC LANGUAGE: ‘This Is a War,’ ‘Both … Brothers Should Be Dead!’ – Chilling Videos from Karmelo Anthony Supporters Outside Courthouse

Trump concession breathes new life into stalled FISA spy powers deal

Jimmy Kimmel trolls Spencer Pratt with U-Haul after primary loss, and Pratt responds

UK’s terrorism watchdog admits Trump administration may be right about migration being a national security issue

Former Louisiana mayor gets jail time for sex with son’s teen friend at house party

Cardi B’s reaction to Karmelo Anthony verdict draws millions of views and fierce criticism

Black Actor Shoots Down Having a ‘Woke’ James Bond: ‘That’s Not What They Like’

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.