UW chancellors hesitant on student debt forgiveness

MADISON, Wis. (AP) — The leaders of the University of Wisconsin System's two largest schools aren't embracing President Joe Biden's plans to forgive student debt.

UW-Milwaukee Chancellor Mark Mone and UW-Madison Chancellor Rebecca Blank said during a virtual luncheon Thursday they have questions about the proposal.

Mone said he would welcome student debt forgiveness but he would have to see whether the funding to cover it would come from a viable source.

Blank was more forceful, saying 57% of her students graduated last year with no debt and borrowing money for higher education is not a bad thing.

She said people borrow similar amounts of money to buy cars even though their value decreases dramatically once they're driven off the sales lot.

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