A further $7.7 billion in student loan repayments will not be required, according to President Joe Biden. Individuals who stand to benefit from their repaid loans have an average debt of $35,000.
In a prepared statement, Biden stated, “Today, my team is canceling student loan debt for 160,000 additional people, bringing the total amount of Americans who have been helped from our debt relief initiatives to 4.75 million.”
The president claims that the new round of loans is eligible for those who had their loans canceled due to what the administration refers to as “fixes” to the current income-driven repayment plans, as well as those enrolled in the Department of Education’s new SAVE Plan and public servants like teachers, nurses, and police officers.
It is one of several complicated steps that Biden has taken to eliminate student loan debt before the 2024 election. According to the nonpartisan Committee for a Responsible Federal Budget, the cumulative cost to taxpayers may be as high as $1.4 trillion. Republican-led states have filed challenges, arguing that the president has the legal power to spend public funds without the approval of Congress.
However, Biden saw the actions as a victory for the younger people who went to college, who make up a sizable portion of his target audience for reelection. He claims that by waiving their educational debt, they will be able to begin a business, purchase a house, and raise a family.
“When paired with all we have done so far, I laid out my administration’s new proposals last month that will eliminate student debt for more than 30 million Americans,” the speaker stated.
“I pledged to work from the first day of my administration to make sure that a college degree is a passport to the middle class, not a roadblock to opportunity,” Biden went on. “No matter how many times GOP elected officials try to stop us, I will never stop trying to eliminate student debt.”
We paid for our college debt, as well as for those of our four children! They paid for their children’s college debt! It is not fair to force us to pay for student debt others so that Joe Biden can get their vote! We pray that crooked Joe will not be reelected. He has destroyed our country with illegal immigrants!
DITTO! He needs to be hung for treason to begin with. At the least, get him out of there before he destroys us even more! Please God help us!
AGREE 10000% FUCK Schmo BYEdumb that bastard motherfucking PANDERING vote buying
Asshole SCUMbag diaper filling PEDOPHILE PANDERING mumbling stumbling fumbling crumbling tumbling BUMBLING douchebag who needs to be HUNG for TREASON. I DESPISE this incompetent SENILE braindead fucktard with the white hot intensity of a thousand suns
This is no more then buying votes. Originally politicians caused an uproar over buying Beer for undecided voters to sway them.
This triggered laws to be inacted to stop it. Now Biden and Co are buying votes at a much higher price. $35,000 will buy a hell of a lot of Beer.
Why no inforcement of laws, oh yes is it because they are democrates and own the DOJ.
Tell dimwit joe that every penny he hands out from now on he’ll be personally responsible to pay for from his own money, especially the corrupt money he got thru his son,!
He shouldn’t even be collecting a presidential pay!FJBlooser
buying votes with taxpayer money. That we don’t have. further putting us in debt. devaluing the dollar more squeezing the working class tighter while they pat themselves on the back and vote to give themselves raises. We’ll keep the illegals and deport all democrats cleanse the country of the communist/woke destruction. It’s they only way to save it
Don’t forget that Dirty Joe had his hands in Hunter Biden’s pocket with the Ukraine scandal, now unravelling, and the scummy attempt by the DOJ to get a court to approve a settlement for tax evasion charges against Hubnter which would have prevented any further charges or trials against Hunter — clearly due to the White House applying pressure.
Don’t forget Afghanistan and the pullout, leaving a $ Bllion of equipment there for the Taliban to take over. Then there is Bagram Airport where Biden chose to abandon it and China has picked it up for free.
Don’t forget (to my astonishment) watching Dirty Joe on TV saying to illegal aliens who were held in Mexico under the Trump rules, “Come on back”. He caused this acute alien problem, against the law, and should be held accountable.
Don’t forget the enormous expansion of the money supply which has sponsored inflation and diminished the buying power of everyone’s savings.
The student loan bailout is a blatant vote buying exercise. He’s doing it by executive order, skirting Congress (which has the responsibility for budget and expenditure). It seems to be an illegal act by Joe, but nobody is stopping him, and I wonder why?