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February 22, 2024

Biden Cancels Another $1.2 Billion in Student Loan Debt

One of Joe Biden’s initial campaign promises to buy votes from younger voters was to cancel student debt loans.

The case was taken to the Supreme Court, and Biden’s plan was shot down.

That has not stopped him, however, from forgiving more than $130 billion in student loans, all of which the US taxpayer must now pay back.

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Biden just signed off on another $1.2 billion in forgiveness this week, as he continues to circumvent Congress and blatantly ignore the decision by the Supreme Court.

Not only that, Biden is bragging about it.

The latest round wipes out loans of less than $12,000 for people who had been repaying their loans for at least 10 years.

With this latest round, Biden is now up to $138 billion in forgiven loans, all of which gets moved over to the national debt.

There were some 800,000 that received the benefit, with the total now at more than 3.9 million loans being forgiven, all of whom will surely vote for Joe Biden in November.

As part of the forgiveness, Biden announced, “This shortened time to forgiveness will particularly help community college and other borrowers with smaller loans and put many on track to being free of student debt faster than ever before.

“Under the Biden-Harris Administration’s SAVE plan, 85 percent of future community college borrowers will be debt-free within 10 years. The Department will continue to regularly identify and discharge other borrowers eligible for relief under this provision on SAVE.”

Biden just keeps spending money and adding to the nation’s debt recklessly, and there will be a price to pay as an American taxpayer.

Biden says he is helping these people, but he is punishing hundreds of millions more by adding to a debt burden that will take decades to pay off.

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