We're right at the cusp of election season, so President Biden just unveiled his new plan to buy votes.
(I mean ... his plan to relieve Americans of the debts that they volunteered to take on.)
Wait till you get a load of this blatant vote-buying scam that disproportionately rewards Democrat voters and punishes blue-collar Trump voters.
More than 25 million borrowers owe more than they originally borrowed, including many who have made years of payments, due to the interest rates on Federal student loans. President Biden will announce plans that, if finalized as proposed, would cancel up to $20,000 of the amount a borrower's balance has grown due to unpaid interest on their loans after entering repayment, regardless of their income.
Translation: "We're going to pay off loans for college-educated young people who are more likely to vote Democrat. And by "we" I mean we the American people. Not President Biden."
From Biden's fact sheet:
Today, President Biden is announcing his Administration's new plans that, if finalized as proposed, would provide debt relief to over 30 million borrowers when combined with actions the Administration has taken over the last four years.
Again, who is benefitting from Biden's plan? College grads.
Your 12-hour workday, middle-America, Joe-the-Plumber type is subsidizing useless college degrees that aren't worth the paper they're printed on.
Too many borrowers eligible for relief - including immediate cancellation - have not been able to overcome paperwork requirements, bad advice, or other obstacles. Since its first days in office, the Biden-Harris Administration has worked to get borrowers the relief to which they are entitled.
Today, the Administration is proposing to automatically cancel debt for borrowers otherwise eligible for relief through the SAVE plan, Public Service Loan Forgiveness, or other forgiveness opportunities like closed school loan discharges but who have not successfully applied for that assistance.
Even if you're too lazy to see if you qualify for cancelation of student debts, it doesn't matter, Biden-Harris will find a way to get you your cash.
Just remember them around election time!
Biden is doing all of this through executive action even AFTER the Supreme Court ruled against him on canceling student loan payments.
The Supreme Court previously blocked the Biden administration's plan in June 2023 to grant student loan forgiveness to nearly 40 million Americans using executive power in a 6-3 decision...
"The Biden administration is lawlessly ignoring the Supreme Court and Congress by launching another massive student loan bailout program. The Supreme Court ruled last year that mass student loan cancellation is unconstitutional, but Biden has made it clear that he won't respect this decision. He is acting as a King, not a president," Elaine Parker, president of Job Creators Network Foundation, said in a statement.
All hail King Biden, canceler of student debt!
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