Shark Tank's Kevin O'Leary Slams Biden's Student Debt Cancellation: 'Completely Unfair'

“Shark Tank” investor Kevin O’Leary has expressed strong disapproval of President Joe Biden‘s recent student debt cancellation initiative, calling it “completely unfair.”

What Happened: O’Leary voiced his sentiments on Wednesday during a segment on NewsNation’s “The Hill,” where he questioned the fairness of singling out a specific group for debt relief. He argued that this move sends a negative message and is unjust to those who couldn’t afford college in the past.

"Why is this cohort the only one that gets this deal?" O'Leary asked.

"How unfair is that? What kind of a message is that? I'm 100% against this."

Despite the positive impact of this initiative, O’Leary is concerned about its fairness and the message it sends to those who struggled to afford college in the past.

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Why It Matters: The Biden administration announced the cancellation of $1.2 billion in student debt on Wednesday. This relief is aimed at about 153,000 borrowers who have been repaying smaller student loans for a decade or more. These borrowers are the first to benefit from the SAVE plan, which provides forgiveness to those who have been in repayment for at least 10 years and took out $12,000 or less in student loans.

This is not the first time O’Leary has criticized the Biden administration’s student loan policies. In December, he slammed the student loan forgiveness initiative as “un-American” and a “horrific idea.” O’Leary’s recent comments reiterate his strong stance against the administration’s approach to student loan debt.

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