WATCH: Forgiving student debt will not incentivize hard work

President Joe Biden announced he will be canceling up to $20,000 of student loan debt for those who received a Pell Grant and $10,000 for all other borrowers with an income less than $125,000. 

Campus Reform Senior Correspondent, Wyatt Eichholz, joined Campus Reform Correspondent Director and Hot Take host, Kate Hirzel, to discuss his recent op-ed criticizing Biden’s student loan policy.

“Unfortunately Biden’s plan does nothing to address those fundamental costs [of universities],” Eichholz told Campus Reform.

[WATCH: Students criticize Biden's loan cancellation plan]

He continued describing the financial bloat occurring inside many universities, “You see administrations ballooning in size, you see that buildings are being built that cost billions of dollars, and amenities that don’t have anything to do with education or getting a degree.”

Eichholz is a senior at the University of Alabama studying economics. He chose to go to school in Alabama instead of Wisconsin, his home state, because of the scholarships he received. Eichholz chose to live 14 hours away from home in an attempt to avoid student loans.

He then pointed out the demographics of those likely to be helped by the Biden Administration's plan.

“When you look at the people who are being targeted by this student loan forgiveness policy they tend to be, on average, more likely to vote Democrat,” Eichholz said.

[OPINION: I went to community college. I shouldn’t be responsible for other students' debt]

He continued, "[Biden] is basically transferring wealth to a preferred democratic voting base in order to win their support, so that the democrat party and Joe Biden in particular can go into the highly contested midterm season with some sorta win to show for the past two years of democratic leadership.”

Eichholz also explained his concern of President Biden throwing money at the problem instead of addressing the cost of higher education.

Watch the full interview above.