(Washington, DC) – In blatant disregard for the law, President Joe Biden is once again flouting legal boundaries, moving forward with another round of partial student loan forgiveness despite a previous ruling by the United States Supreme Court deeming his sweeping student loan handout illegal.
Announced by the White House, this latest move will absolve student debt for an additional 277,000 individuals, bringing the total number of beneficiaries to 4.3 million borrowers under Biden’s tenure, all at a staggering cost of $7.4 billion to taxpayers already grappling with the burdens of inflation.
Biden’s persistence in pursuing this agenda, despite clear legal constraints, is evident in his statement: “I will never stop working to cancel student debt – no matter how many times Republican elected officials try to stop us,” a misleading assertion considering the Supreme Court’s nonpartisan verdict.
Since assuming office in January 2021, the economic landscape has been marred by alarming price hikes, with essential commodities such as eggs soaring by 104%, from $1.47 to $3.00 per dozen, on average. Bread, chicken, flour, and butter have all witnessed significant increases, further burdening American households.
In a move critics decry as an attempt to sway voters, particularly progressive youth disillusioned with his policies, Biden aims to alleviate financial strains for millions just months ahead of his 2024 reelection bid. This brazen maneuver has drawn sharp rebukes from Republican lawmakers, who accuse him of attempting to buy votes and circumvent the rule of law.
Sen. Marsha Blackburn of Tennessee condemns Biden’s “socialist student debt relief program,” arguing that hardworking Americans should not subsidize elite pursuits such as gender studies PhDs. House GOP Conference Chairwoman Elise Stefanik of New York lambasts Biden for foisting the financial burden of his illegal bailout onto taxpayers in a desperate bid to salvage his floundering campaign.
According to the White House, the 277,000 borrowers benefitting from this latest scheme are enrolled in the Biden administration’s new SAVE Plan or have been granted relief through Income-Driven Repayment Plans and Public Service Loan Forgiveness programs. Yet, the legality and fairness of these measures remain contentious, underscoring a troubling pattern of executive overreach and disregard for legal boundaries.
