On Wednesday morning, the Biden regime announced another massive round of student debt handouts that would result in $7.7 billion going toward clearing debt for more than 160,000 borrowers. This move comes as a part of the regime’s efforts to bring student debt relief to millions of Americans.
160,000 borrowers will soon learn that their student debt has been approved for cancellation through my Administration’s actions.
Education should never be a barrier to opportunity.
And I will never stop working to cancel debt, despite Republican officials’ attempts to stop us. pic.twitter.com/byxVnMiJ2P [1]
— President Biden (@POTUS) May 22, 2024 [2]
President @JoeBiden [3] and I had a much more ambitious plan for forgiving student loan debt, but Republicans and the Supreme Court blocked it.
So Joe Biden said we will find another way.
We have now forgiven nearly $160 billion of student loan debt for over 4 million Americans.
— Kamala Harris (@KamalaHarris) May 22, 2024 [4]
The debt relief package covers three categories of borrowers: people receiving Public Service Loan Forgiveness (PSLF), people enrolled in Joe Biden’s Saving on a Valuable Education (SAVE) Plan, and people receiving forgiveness on income-driven repayment (IDR) owing to fixes made by the administration. It includes $5.2 billion for 66,900 borrowers through fixes to PSLF, $613 million for 54,300 borrowers through the SAVE Plan, and $1.9 billion for 39,200 borrowers through administrative adjustments to IDR payment counts.
We would like to show you the Biden regime’s press release [5] from the Department of Education, but their entire website is down [6]:
Since the announcement, the Biden regime has cleared $167 billion in student loan debt for over 4.75 million Americans. The Department of Education (DOE) believes that with this initiative, one out of ten federal student loan borrowers will receive relief. Under Secretary of Education, James Kvaal congratulated borrowers on their due forgiveness and reassured them that the regime would continue to work toward delivering relief to others.
In addition, the Biden regime has secured various actions to clear student debt, including finalizing new rules to protect borrowers from “career programs that leave graduates with unaffordable debts or insufficient earnings” and securing a $900 increase in the maximum Pell Grant.
“From day one of my Administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity,” Biden said in a statement. “I will never stop working to cancel student debt – no matter how many times Republican elected officials try to stop us.”
Biden is blatantly buying votes with YOUR taxpayer dollars.
Disgusting. pic.twitter.com/Ufm5cHxCKD [8]
— Rep. Andy Ogles (@RepOgles) May 22, 2024 [9]
?REMINDER:
Joe Biden isn’t “canceling” student loans.
He’s simply forcing the 87% of Americans without student loans to foot the bill.
All in an attempt to buy votes. https://t.co/eTD1pOuOOc [10]
— Congressman Troy E. Nehls (@RepTroyNehls) May 22, 2024 [11]
Meanwhile, Republican states have filed lawsuits challenging the initiatives of the Biden regime. Although last year, the Supreme Court declared that the administration overstepped its authority in 2022 when it announced it would cancel up to $400 billion in student loans, the present efforts to cancel student debts show no signs of slowing down.