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Biden’s Never-Ending Student Loan Scam: “The Supreme Court Didn’t Stop Me”

President Biden has struck again in his efforts to buy millions of votes from young voters this November.

Yesterday over a hundred thousand emails went out under Joe Biden’s name telling borrowers their loans had been discharged – we assume the “vote for me” was left as subtext.

In some ways, Biden’s latest move is his most brazen yet. Other federal loan repayment plans forgive balances, but only after 20 to 25 years of payments. The Biden plan will require only 10 years of payments and will allow the Secretary of Education to FULLY cancel the loans of borrowers who he subjectively thinks “are at least 80 percent likely to be in default in the next two years.”

In other words, if a borrower meets one or more of the 17 categories of “hardship,” the loan is canceled in full.

This is likely a more costly and sweeping approach than the original Biden forgiveness plan that the Supreme Court invalidated last year. That plan capped cancellation of any borrower’s debt at $20,000, while the new plan can wipe out debts in full. The old plan was for a one-off forgiveness while the new plan allows the DOE to cancel debts on an ongoing, continuous basis.

College tuition has skyrocketed in large part BECAUSE OF all the federal subsidies, which administrations are happy to capture in tuition increases. Creating the expectation that loans will eventually be dumped on taxpayers can only make that worse.

Why are taxpayers on the hook to pay for deadbeats who don’t pay their loans? Why aren’t the universities who bilked families in the first place the ones who should be “forgiving” these loans?

And for all the tens of millions of Americans who HAVE paid back student loans, we have one word for you: SUCKER!

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