Biden Wipes Out Millions in Loans During His Last 7 Days in Office

Joe Biden announced that 150,000 more borrowers have had their loans forgiven.

This is boosting the total to over 5 million.

Despite the Supreme Court striking down his sweeping forgiveness plan in 2023, Biden’s team basically said, ‘Schools out in seven days, so who cares!’

And so, they doubled down sending more money to Public Service Loan Forgiveness.

Is this a final attempt to win over more voters?

He doesn’t seem to have any other ideas up his sleeve, so loan forgiveness it is.

🚨 Biden’s total student debt relief passes $183 billion, after he forgives another 150,000 borrowers
5+ Million Loans forgiven since taking office pic.twitter.com/H2dmNnQbsc

— DailyJobCuts . com – Layoffs / Job / Economy News (@dailyjobcuts) January 13, 2025

Biden felt like playing Oprah in his last week.

“You get debt forgiveness! And you get debt forgiveness!”

Joe Biden Forgives Student Loans for 150,000 Borrowers Just Days Before Trump Inauguration

READ: https://t.co/ul44Tunbub pic.twitter.com/EXxtlMMF0b

— The Gateway Pundit (@gatewaypundit) January 13, 2025

NBC News reports:

President Joe Biden announced Monday that his administration had approved student loan relief for more than 150,000 borrowers, bringing the total number who have had their student debt cancelled under the Biden administration to over 5 million, he said in a White House release.

Although Biden lost the legal battle to deliver on his campaign promise of implementing a broad federal student loan forgiveness program, the president said Monday that his administration has still “forgiven more student loan debt than any other administration in history.”

The 150,000 new beneficiaries announced Monday include more than 80,000 borrowers who were cheated or defrauded by their schools, over 60,000 borrowers with total and permanent disabilities, and more than 6,000 public service workers, Biden said in the release.

The Biden administration has focused on revising and expanding federal student loan forgiveness programs that existed before Biden took office. That approach allowed the administration to expand loan forgiveness options despite its failure to implement new federal forgiveness programs after the Supreme Court struck-down Biden’s initial plan in 2023.

The Education Department pivoted to pre-existing pathways meant to lift the financial burden of loan repayments on some of the country’s most financially vulnerable borrowers.

Biden on Monday cited improvements to the Public Service Loan Forgiveness program, which allows public servants to have the remainder of their student loan debt cancelled after making a decade’s worth of payments. He also pointed to fixing administrative errors in income-driven repayment programs and expanding the maximum limit for Pell Grant awards, a form of need-based financial aid for low-income students.

An interesting move by Biden.

And with only seven days left, you have to wonder what he has planned next?

Rumor has it that Trump’s Administration’s debt forgiveness plan will dwarf this by leaps and bounds.

Better days are right around the corner. Just keep the faith.