Biden Unveils Plan to Erase Additional $5 Billion in Student Loan Debt

Opinion President Joe Biden has promised student debt relief, and it looks like he’s determined to deliver on that. The administration had already ‘forgiven’ over $120 billion in outstanding student loan debt, but more is now in the offering. Axios reports that The White House on Wednesday announced $4.8 billion in student debt relief for some 80,300 people. That brings the total approved student debt cancellation by the Biden administration to $132 billion for more than 3.6 million Americans. A portion of the relief comes as a part of the administration’s effort to “fix” the Public Service Loan Forgiveness (PSLF) program, which wipes out the student loan balance of public service workers who have worked for 10 years and made 120 qualifying payments. Despite the Supreme Court blocking his large-scale student debt forgiveness plan, Biden has delivered relief for millions of borrowers by circumventing the need for Congressional or court approval. An unfairness of the entire scenario is plain as day, but they just don’t care. Millions worked hard and paid off their student debt obligation. And for what? What fools they must feel like, right? The Biden Administration’s latest student debt transfer does not “cancel” or “forgive” a penny of student loan debt. Instead, President Biden is once again asking hard-working taxpayers to foot the bill for the loans of well-off graduates. This was actually summed up well by a Democrat Congressman… yes, you read that right, Jared Golden of Maine. Golden said in August as one of only two Democrats to join House Republicans in opposing a Biden student loan bailout. Couldn’t have said it better myself. We could use more Democrats like this guy.