Chase CEO Jamie Dimon Knocks Biden’s Student Loan Forgiveness Plan

JPMorgan Chase CEO Jamie Dimon brushed aside President Joe Biden’s student loan forgiveness, accusing it will do little to solve the ongoing problem.

Dimon called the program “poorly done” when speaking with fellow big bank CEOs before a US House panel on Wednesday.

“I wish they would have targeted the people who actually needed help,” Dimon said. “They still haven’t finalized the underwriting and they haven’t finalized the cost of college.”

“We basically put a patch, spent a lot of money and didn’t fix the problem,” he added.

President Biden’s plan would essentially give Americans earning less than $125,000 a year if they receive Pell Grants up to $20,000 in student loan cancellations and up to $10,000 in cancellations if they did not receive Pell Grants.

Dimon’s condemnation of the plan comes after a Convention of States Action/Trafalgar Group poll found a majority of Americans would not vote for candidates supporting the plan in the upcoming midterms. As Breitbart News reported:

Overall, 55.6 percent said they would be less likely to support a candidate who supports Biden’s plan… Of those who said they would be less likely to vote for a political candidate who supports Biden’s plan, 49 percent said that they were “much less likely,” and 6.6 percent said they were “slightly less likely.” However, 44.4 percent said they would be more likely to offer their support to a candidate who supports the plan.

Opinions are divided along party lines as the overwhelming majority of Democrats, 89.4 percent, said they are more likely to vote for a candidate who supports Biden’s plan. However, 88.5 percent of Republicans say they’re less likely, and 53.9 percent of independents agree.

A recent survey by The economist/YouGov also found that about 50 percent of Americans agree that forgiving student loans would be unfair to those who didn’t go to college, and even more agreed it would be unfair to those who have paid off their loans.

https://www.breitbart.com/economy/2022/09/21/jpmorgan-chase-ceo-jamie-dimon-knocks-bidens-studen-loan-forgiveness-plan/ Chase CEO Jamie Dimon Knocks Biden’s Student Loan Forgiveness Plan

Linh

Pechip.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@pechip.com. The content will be deleted within 24 hours.

Related Articles

Back to top button