While the lefties like AOC and her Squad continue to lobby the Biden Administration to outright cancel all student loan debt, Biden has chosen to continuously take baby steps.
For what feels like the tenth time in the last two years, the government has paused student loan payments.
And now, the new plan is to give millions of student loan debtors a "fresh start" by letting everyone who has defaulted on their student loan payment act like it never happened.
Never mind that it has been two whole years since anyone has had to pay a dime, Biden is going to allow everyone to now be current on their payments.
The country's outstanding education debt balance exceeded $1.7 trillion and posed a larger burden to households than credit card or auto debt. Roughly a quarter of student loan borrowers — or 10 million people — were estimated to be in delinquency or default and now stand to benefit from the announcement.
The Education Department said these borrowers will be granted a "‘fresh start' on repayment by eliminating the impact of delinquency and default and allowing them to reenter repayment in good standing."
Delinquencies typically appear on credit reports after around 90 days, and defaults a year, according to higher education expert Mark Kantrowitz.
So, Biden's plan is perfect because it makes both sides mad.
The uber-left is mad because he's not canceling the debts and the right isn't happy because he's not holding delinquents accountable.
It's just another perfect storm for the Biden Administration!
P.S. Now check out our latest video: "Highlights from Biden's speech last night" 👇