'In an executive action that was originally planned for July, Biden has activated a Savings on Valuable Education (SAVE) plan policy that cancels debt for enrolled borrowers who have been in repayment for at least 10 years and hold $12,000 or less in student loan debt.
“In an executive action that was originally planned for July, Biden has activated a Savings on Valuable Education plan policy that cancels debt for enrolled borrowers who have been in repayment for at least 10 years and hold $12,000 or less in student loan debt.”Joe Biden has just waved away another $1.2 billion in student loan debt, despite being told months ago by the United States Supreme Court that he doesn’t have the authority to do so.
Biden has now unilaterally wiped away nearly $138 billion in federal student loans for almost 3.9 million borrowers without a single act of Congress. The student loan bailouts come after the U.S. Supreme Court blocked Biden’s initial debt cancelation plan last year, which would have cost more than $400 billion.
Biden is not "canceling" student debt. He is taking debt from borrowers who willingly took it on and transferring it onto taxpayers who chose not to attend college or already paid off their loans. It is unfair and nothing to be proud of.The debt doesn’t disappear — it gets paid by taxpayers. You.