Staff Reports
President Joe Biden has waved his magic wand yet again, this time making $7 billion in student debt disappear into thin air for 160,000 lucky folks. The White House recently shared the exciting news that these individuals will no longer have to worry about their college debt haunting them. Who knew Biden had this many unadvertised talents up his sleeve?
In a bold move, the Supreme Court tried to rain on Biden’s parade by blocking his plan to erase a whopping $430 billion in student loan debt for nearly 40 million people. But that didn’t stop Uncle Joe from spreading his debt-canceling joy to teachers, nurses, and law enforcement workers who signed up for his Saving on a Valuable Education (SAVE) Plan. It’s like a debt-relief fairy tale coming true for those who qualify.
The American taxpayers just keep getting sold down the river. Footing the bill for everyone from student loan pay-offs, all benefits for illegals, funding Ukraine’s war etc. Biden Cancels More than $7 Billion in Student Debt for 160,000 People https://t.co/hVcql2lmRu
— Lady Tigress “Those were the days my friend” (@LadyConstance8) May 23, 2024
This recent debt forgiveness extravaganza adds to the 4.75 million Americans who have already been rescued from the shackles of student loans under Biden’s watch. The average debt cancellation of over $35,000 per borrower is no small potatoes. It’s like hitting the jackpot without buying a lottery ticket!
Back in April, Biden made a similar grand announcement that over 270,000 indebted souls would be set free from the chains of student loans. These fortunate individuals had also joined the SAVE Plan party. With more than 75 million people hopping on the SAVE Plan train since its launch in August 2023, it seems like Biden is on a mission to clean up the student debt mess left behind by his predecessors.
Despite facing opposition from Republican officials, Biden remains determined to make higher education accessible without being a financial burden. The SAVE Plan continues to offer a lifeline through its income-driven repayment system, ensuring that borrowers can keep their loan payments under control. Who needs a fairy godmother when you have President Biden waving his debt-canceling wand in the air?
