Curt Schilling Rips Student Debt Forgiveness After He Defaulted on a $75 Million Government Loan
Curt Schilling has some thoughts he’d like to share on President Joe Biden’s plan to forgive up to $20,000 in student loan debt per qualifying borrower.
He hates it.
On Wednesday, Biden announced an automatic $10,000 in debt forgiveness for every borrower making less than $125,000 a year. Those who received Pell grants could receive up to $20,000 in relief.
The former big league pitcher lashed out on Twitter, saying others’ loans shouldn’t be his responsibility. And yet once upon a time, Schilling’s now-defunct company defaulted on a $75 million loan given to him by the state of Rhode Island.
My body my choice? Your loan my responsibility? This isn’t loan forgiveness, it’s a generation of lazy unaccountable uneducated children being covered by hard working debt paying Americans.
— Curt Schilling (@gehrig38) August 25, 2022
“My body my choice? Your loan my responsibility?” Schilling tweeted Wednesday night. “This isn’t loan forgiveness, it’s a generation of lazy unaccountable uneducated children being covered by hard-working debt-paying Americans.”
About that.
Shortly before retiring from baseball, Schilling started a video game company in Massachusetts called 38 Studios. In 2010, Rhode Island lured away the company by dangling $75 million in taxpayer-backed loan guarantees.
The company ultimately produced just one game before going bankrupt in 2012. Schilling personally lost $50 million, while Rhode Island taxpayers ate the $75 million. After crying poverty, 38 Studios settled with Rhode Island. In 2016, the company agreed to pay $2.5 million to the state in order to settle claims it had defrauded taxpayers.
Schilling has long fancied himself a conservative who is suspicious of government, perhaps because it’s occasionally been known to give lots of money to mismanaged businesses.
