The leading Republican opponent of student loan forgiveness on Wednesday criticized President Joe Biden’s plan to forgive 813,000 people’s student debt as a clear attempt to buy his way to reelection next year.
Hundreds of thousands of former students will receive emails from the president in the coming days informing them that their debt has been forgiven.
Republican Senator Bill Cassidy posted the president’s message on X, the platform formerly known as Twitter, including a request for beneficiaries to share the good news.
“Couldn’t be made clearer that Biden’s ploy to force out-of-college taxpayers to shoulder hundreds of billions in other people’s student debt is a ploy to drum up political support for his re-election,” he wrote.
Joe Biden told 813,000 more Americans that he wiped out their student loan debt on Tuesday, meaning the president has forgiven a total of $127 billion for 3.5 million borrowers
Students are protesting the Supreme Court’s ruling against President Joe Biden’s student debt relief program
Biden’s move means he has forgiven a total of $127 billion for 3.5 million borrowers, although his plan to forgive $400 billion in debt was rejected by the Supreme Court in June.
Helpers and supporters see this as nothing but good news as their social media feeds are filled with details.
Even Republicans who complained that this meant ordinary taxpayers would foot the bill remained largely silent after the latest announcement.
The email clarifying that the help came from Biden said: “Congratulations – your student loans have been forgiven as a result of my administration’s actions to ensure you receive the relief you deserve and deserve .”
Biden’s heavy-handed push for the relief program coincides with the upcoming 2024 elections and his desire to get young voters on board.
A White House spokesman said Tuesday: “The president is committed to fighting for hardworking American families to ensure we give them a little more freedom and enable them to support themselves and their families.”
In early October, Biden canceled an additional $9 billion in student loan debt, providing relief to 125,000 borrowers.
The move came as borrowers prepared to resume payments after a three-year pause that began during the COVID-19 pandemic.
“Americans being saddled with unsustainable debt in exchange for a college degree has become the norm,” Biden said in a speech at the White House.
He argued that student loan debt forgiveness is good for the economy because borrowers will spend their payment money on other things.
In early October, Biden canceled an additional $9 billion in student loan debt, providing relief to 125,000 borrowers
Meanwhile, the Biden administration was heavily criticized by one of its own agencies earlier this month for failing to include strong anti-fraud measures in its original plan to provide $430 billion in student loan relief
“This kind of relief is life-changing for individuals and their families.” But it’s also good for our economy as a whole. Relieving millions of Americans from the crushing burden of student debt means they can get their lives in order. You can think about buying a house. You can start a business. You can start a family. This is important. “This is important for their daily lives,” the president said.
In total, 3.6 million borrowers will have paid off $127 billion in debt since Biden took office.
“My administration will continue to use every tool at our disposal to ease the burden of student debt so that more Americans have the freedom to pursue their dreams.” It’s good for our economy. It’s good for our country. And it will change their lives,” he said.
Federal student loan payments resumed on October 1st.
In June, the Supreme Court struck down Biden’s student loan forgiveness program, which promised up to $20,000 in debt relief to low- and middle-income borrowers. The government has continued to find other ways to ease debt.
Biden then said he would take new measures to ease student loans.
To reduce the debt, he is relying on a patchwork of programs, such as public service loan forgiveness and the SAVE plan, which lowers payments by tying them to borrowers’ income.
Meanwhile, the Biden administration got a sharp slap on the wrist from one of its own agencies earlier this month for failing to include strong anti-fraud measures in its original plan to provide $430 billion in student loan relief.
The Government Accountability Office (GAO), in a harrowing report, exposed flaws in Biden’s student loan forgiveness plan, which has since been rejected by the Supreme Court, saying it opened the door to fraud.
“We found that Education quickly granted debt relief to borrowers without using key fraud prevention measures. “For example, certain borrowers did not verify their income information before granting them relief.”
Additionally, it said the department approved over 12 million loan applicants “without evaluating the accuracy and outcomes of their application process.”
And two million students were to be automatically admitted based on their self-reported income, without the Department of Education using “any tools to verify the income of these borrowers or to ensure that they were eligible for relief.”
Members of Congress quickly seized on the report and criticized Biden and Education Secretary Miguel Cardona.
Source : www.dailymail.co.uk