For the second time this week, the Biden Administration announced it’s wiping out more student loans. More than a quarter million borrowers will get an email from the White House Friday telling them their debt is canceled, totaling $7.5 billion. But critics say the handout is unfair to those who paid off their loans and it’s just an attempt to try to woo young voters.
“Thanks to what we’re doing that student debt is no longer holding you back,” said President Joe Biden.
President Biden smashed his own record canceling more student loan debt than any other president. With his latest announcement Friday wiping out an additional $7.4 billion for some 277,000 borrowers bringing his total to a whopping 153- billion dollars in student loan forgiveness.
“My administration is taking the most significant action to provide student debt relief ever in the history of this country.”
The Supreme Court shot down Biden’s original, more sweeping student loan forgiveness plan last year but that’s not stopping him from finding other ways to cancel debt. The White House says it’s using existing programs, such as “SAVE” – a plan for low-income borrowers launched last year. But the payoffs have been largely criticized by Republicans and several states are suing to block said programs.
“The department’s student loan forgiveness policies are unfair to Americans who did not go to college or that paid back their loans,” said Rep. Robert Aderholt (R-AL).
“I don’t see as unfair. I see it as we’re fixing something that’s broken,” countered Secretary of Education Miguel Cardona.
Many see the payouts as Biden trying to win back Gen-Z as a recent Fox News Poll shows more young voters support Donald Trump over Joe Biden.
“The student loan forgiveness, these things that they’re just handing out are not going to buy them the votes that they need. It’s very clear that it’s getting desperate,” said Nic Sumners, a 20-year-old Virginia resident who did not go to college.
Earlier this week, President Biden announced a proposal that would eliminate student debt for more than 30 million borrowers which could go into effect as early as the fall.
