Joe Biden has only two plays to keep a red wave from sweeping over Congress and the states this November:
- Get people upset about Roe v. Wade.
- Forgive a bunch of student loans.
The media is making sure to promote both things this week.
Temporary changes to the troubled Public Service Loan Forgiveness Program have resulted in more than 110,000 people with student debt getting around $6.8 billion in relief.
The new figures from the U.S. Department of Education show how many borrowers are benefiting from the policy fixes announced by the Biden administration last year. Hundreds of thousands more could still see their debt discharged as part of the effort. The average amount of debt reduction per borrower is close to $60,000, according to the Education Department.
Whoo hoo! The debt has been cancelled!
Or, you know, just shuffled onto every American, but what's a few billion when you're $30 trillion in debt??
But wait, 110,000 people... that's only a fraction of what Joe promised!
To begin, you want to act quickly, said Mark Kantrowitz, a higher education expert.
That's because the Biden administration's new rules for public service loan forgiveness are slated to expire on Oct. 31.
He might want to extend that until the end of November if he wants to maximize his chances!
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