Joe Biden is reported to be issuing a student loan forgiveness announcement, which will reportedly wipe out $10,000 in loan debt for borrowers making less than $125,000 per year.
The Daily Caller notes:
CNBC reported that Biden’s announcement on student loans could come “as soon as Wednesday.” The Wall Street Journal later reported that the administration is in fact making plans for an announcement on that day. The administration has spent months debating the subject of student loan cancellation and officials vowed a decision would come before the end of August.
While the White House has not confirmed official details of Biden’s plan, NBC News reported Tuesday that he will likely announce a $10,000 student loan forgiveness for individuals making less than $125,000 a year. Biden is also reportedly planning on extending the current pause on student loan debt payments, NBC News reported, citing sources familiar with the plans.
“The President will have more to say on this before August 31,” White House spokesman Abdullah Hasan told NBC News in response to the reports. “As a reminder, no one with a federally-held loan has had to pay a single dime in student loans since President Biden took office, and this Administration has already cancelled about $32 billion in debt for more than 1.6 million Americans — more than any Administration in history.”
Some members of the Democratic Party are likely to be disappointed with Biden’s reported decision. Senate Majority Leader Chuck Schumer and Democratic Massachusetts Sen. Elizabeth Warren, for example, have pushed Biden to cancel upwards of $50,000 in student loan debt. Meanwhile, more left-wing lawmakers like Independent Vermont Sen. Bernie Sanders have called for a full cancellation of student debt, Forbes previously reported.
The student loan forgiveness announcement will come just months before the November elections where the GOP is expected to reclaim one or both chambers of Congress — a referendum on the Biden administration’s policies.
Biden, has no right to use the taxpayers money to buy votes! It is criminal what he is doing.
Half of these people are still in college and technically are well below 125 grand so effectively, the clueless one is forgiving the debt of everyone in college now.
If you forgive their loans then forgive out mortgages!!!!!!!! Biden does this and the Republicans can do WHATEVER THEY WANT AND DEMOSHITS HAVE NO SAY…..PROSECUTE CONGRESS FOR INSIDER STOCK TRADING
Of course, Biden is buying votes with our tax money. That’s the familiar Democrat playbook. Democrats don’t do anything useful for US citizens; they just buy votes to get elected. Recently, they have caused rampant inflation and greatly hurt the middle class with their excessing spending and vote buying.
Hey Biden … FUH-Q and GO TO HELL You will never be qualified to be President !
Instead of canceling the student debt, why not just cancel the interest and penalty’s? I believe even the Republican’s could agree to that.
How much more of our money is Biden and the Democrats going to use to buy votes? Between money to Ukraine the Inflation Causing/Climate Boondoggle/IRS Army Building Bill and this Student Loan Forgiveness/Cancellation and now I just read that the SENATE DEMOCRATS are demanding ANOTHER 21 BILLION for Covid 19 and other viruses! When will enough be enough for them? Please I beg you, if you are even THINKING about voting for a Democrat this November, please, please please reconsider. As I heard a pod cast host say: “Republicans may not have ALL the answers, but Democrats don’t have ANY answers!”