The Biden administration is canceling another $7.4 billion in student loans for 277,000 borrowers, amounting to $153 billion in total debt forgiveness approved by the president.
The Education Department announced Friday that it had approved the extra loan cancellations for almost 4.3 million student borrowers nationwide through its Saving on a Valuable Education (SAVE) plan.
“Today’s announcement shows — once again — that the Biden-Harris Administration is not letting up its efforts to give hardworking Americans some breathing room,” Education Secretary Miguel Cardona said in a statement.
“As long as there are people with overwhelming student loan debt competing with basic needs such as food and healthcare, we will remain relentless in our pursuit to bring relief to millions across the country.”
But critics of the move have often pointed out the financial burden is only being shifted to the majority of US taxpayers who do not have some sort of college degree.
“The administration is tone deaf. There’s no other way to put it,” said House Education and Workforce Committee chairwoman Virginia Foxx, who criticized the Education Department for botching its federal student aid programs while prioritizing the debt cancellation “scheme.”
“That has been frustrating, especially since it has jeopardized the academic journey of millions of students,” Foxx (R-NC) said. “But what is absolutely maddening is that the administration is STILL not doing its job and instead focusing on its student loan shenanigans.” --->READ MORE HERE
Joe Biden, defender of democracy, loves shredding norms when those norms stand between him and his brazen efforts to buy votes.
Just look at his latest student debt “forgiveness” ploy — and keep in mind: It’s not forgiveness, he’s just making other people who never took out any loans pay for them.
Some $7.4 billion of debt among 277,000 borrowers is being foisted off on America at large, whether you went to college or not — a transfer with no real legal basis nor the approval of Congress.
The Supreme Court rightly slapped down his $430 billion mega-sellout in June 2023 over its absurd use of a post-9/11 law meant to help active-duty military avoid loan troubles.
But that didn’t stop Good Time Joe.
He’s done round after round after round of dubiously legal mini-jubilees ever since, including:
- March’s $5.8 billion handout to 78,000 borrowers; if Joe misses your debt tranche one month, he’s sure to hit you next time around!
- Another cool $5 bil for 74,000 borrowers in January; gotta keep the New Year’s party hopping.
- October 2023 saw the prez socialize $9 billion in debt for 125,000 borrowers.
- Don’t forget August 2023’s summer blockbuster: a staggering $39 billion for more than 800,000 borrowers.
And that’s not all! The White House earlier this week teed up another big meatball, very similar to the one the Supremes killed. --->READ MORE HERE
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