The Biden Administration announced they would forgive another 153,000 people of their student debt.
Bringing the overall number of people up to 3.9 million.
The move is expected to cost $1.2 billion.
Despite a ruling by the Supreme Court of the United States back in 2023, Biden seems hellbent on buying votes through his loan forgiveness program.
Not only has the SCOTUS said that what Biden is doing is unconstitutional, but even Nancy Pelosi is saying that Joe Biden can’t forgive student loans.
Watch the clip here:
Nancy Pelosi says Biden DOES NOT have the power to cancel student loans.
“People think that the president of the United States has the power for debt forgiveness. He does not.” pic.twitter.com/0iz8uQeKXG
— RNC Research (@RNCResearch) April 29, 2022
So why is it that Biden is still going through with his plan?
Unfortunately, the Supreme Court ruling only closed off one avenue for Biden to forgive student loans.
The Biden Administration knew their actions were unconstitutional, so they found additional loopholes as a backup plan.
CNBC shares more on Biden’s “plan b:”
Nearly 40 million Americans would have gotten relief from Biden’s original student loan forgiveness plan.
The president’s Plan B is looking much narrower. That’s because the justices ruled in June that the first plan, which covered more than 90% of federal student loan borrowers, was too far-reaching.
“Can the Secretary use his powers to abolish $430 billion in student loans, completely canceling loan balances for 20 million borrowers, as a pandemic winds down to its end?” wrote Chief Justice John Roberts in the majority opinion for Biden v. Nebraska. “We can’t believe the answer would be yes.”
The new forgiveness policy will include only a small share of borrowers, said Luke Herrine, an assistant professor of law at the University of Alabama.
Republicans don’t seem to care too much about this issue.
In reality, it’s giving Biden a massive advantage in the polls.
Biden buys the votes of millions, and he offers loan forgiveness.
Biden doesn't care that SCOTUS blocked student loan cancellation.
He's acting like what they call Trump- a dictator pic.twitter.com/yl9HEJXN6v
— Sara Rose 🇺🇸🌹 (@saras76) February 22, 2024
CNN shares more about the loan forgiveness:
Nearly 153,000 student loan borrowers currently enrolled in a new repayment plan launched by the Biden administration are expected to get an email Wednesday notifying them that their remaining federal student loan debt will be canceled, totaling about $1.2 billion.
The email is expected to include a congratulatory message from President Joe Biden, whose administration is eager to remind voters what it has done to address student loan debt as the presidential election ramps up.
“From day one of my Administration, I vowed to fix student loan programs so higher education can be a ticket to the middle class—not a barrier to opportunity,” the message reads.
Biden’s plans to provide student debt relief were dealt a significant blow when the Supreme Court rejected his signature student loan forgiveness program last year.
“My MAGA Republican friends in the Congress, elected officials and special interests stepped in and sued us and the Supreme Court blocked it. But that didn’t stop me,” Biden said Wednesday in brief remarks made at a small community library in Culver City, California.
In the end, Biden meant to say that the constitution and the SCOTUS say I can’t forgive student loans, but I weaseled my way through with a legal loophole that now allows me to do it anyway.
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