• May 22, 2024

Biden ‘Forgives’ $6B MORE in Student Loans for 78K People

(Dmytro “Henry” Aleksandrov, Headline USA) Despite last year’s Supreme Court ruling, the Biden administration decided to announce additional rounds of federal student loan debt “forgiveness.”

The White House issued a press release on March 21, 2024, in which it declared that it would forgive $6 billion for 78,000 people.

“Today, my Administration is canceling student loans for an additional 78,000 public service workers — teachers, nurses, firefighters, and more — through Public Service Loan Forgiveness,” Biden said.

He then tried to justify the decision by exploiting the “dedication” of public service workers.

“These public service workers have dedicated their careers to serving their communities, but because of past administrative failures, never got the relief they were entitled to under the law,” he added.

President George W. Bush signed the Public Service Loan Forgiveness Program into law back in 2007 to encourage Americans to seek employment in the public service sector.

As it was previously pointed out, the Biden administration has wiped out federal student loan debt for 870,000 public service workers. This number looks even bigger in comparison to all of the previous administrations combined providing relief only to 7,000 workers, Blaze Media reported.

Biden previously said that he “canceled” debt for four million Americans since stepping into the Oval Office. The administration attempted to unilaterally eliminate $10,000 of federal student loan debt last year for individuals making less than $125,000 per year and married couples making less than $250,000 per year, according to the news source.

Back in June 2023, the Supreme Court blocked Biden’s plan, preventing him from canceling approximately $430 billion of debt for borrowers.

The ruling didn’t stop the administration that continued providing debt forgiveness through smaller, similar programs that pass the burden to all American taxpayers, as always. As of March 22, 2024, Biden zeroed out $143.6 billion in debt for student loan borrowers.

“In the wake of the Supreme Court’s decision on my Administration’s original student debt relief plan, we are continuing to pursue an alternative path to deliver student debt relief to as many borrowers as possible as quickly as possible,” he said.

Source

The Daily Allegiant