WASHINGTON — President Biden said Friday his administration is forgiving another $5 billion in student loan debt for 74,000 people using existing government programs — continuing his piecemeal approach to write-offs after the Supreme Court last year struck down his sweeping plan to forgive $430 billion in college debt.
The latest action brings Biden’s post-ruling loan forgiveness to about $137 billion, according to a Wall Street Journal tally — as the 81-year-old president tries to demonstrate that he’s making good on a campaign pledge as he seeks a second term in this year’s election.
“I wanted to forgive all student debt and the Supreme Court said, ‘No,’ I didn’t have the authority to do that,” Biden said during a White House speech to mayors Friday afternoon — exaggerating the scale of his prior plan, which would have forgiven either $10,000 or $20,000 per borrower.
“Then I realized there was a public service requirement out there,” the president recounted — referring to existing loan forgiveness laws passed with bipartisan support.
Action to forgive student debt was “fair” and “grows the economy,” Biden argued, as beneficiaries can “go out and go buy a home, invest in a business… [and] grow their families.”
Took me over ten years to pay off my student load debt.
If they can be reimbursed, then why not the rest of us who made sacrifices and paid loan on time and paid it off?
When you go to college or trade school you are told up front the tuition and housing. They made their decision and some ended up with worthless degrees. I also worked two jobs after I graduated to pay off this debt, so I am really pissed over this!!!!
It is called DISCRIMINATION And All who Paid should SUE !!!!!
Biden to Prison for Defying Supreme Court Orders !!!! Waisting $$$$ By the Billions !!!!!
This is nothing more than buying votes – while showing the corruption of the demoncrats!
SCOTUS has already ruled this is a no-no!
Court should order the ARREST of BIDEN !!!!
Build some homeless shelters with that money, so that people are not laying on the ground freezing to death in the frigid weather.
Clear defiance of the LAW Defying a Supreme Court Order & Ruling !!! Biden NOT above the Law !!!!
Shhhhhh. Don’t tell slow Joe that,. He believes he is above the law, all the Obidens do.
Must be nice to Spend by the BILLIONS & TRILLIONS !!!!
Billion for Him / Billion for Pelosi / Billion for Schumer !!!!! No Doubt $$$$$$$$$$$$$