Biden

Socialism Biden Considering Canceling $10K In Student Loan Debt Per Student

For over a year, AOC’s “Squad” has pressured the Bide administration to forgive over 1 trillion dollars in student loan debt for tens of thousands of former and current students.

Politically it now appears the administration is looking for ways to win over these college-aged voters as the mid-term elections are approaching with democrats polling way behind in many U.S. House and Senate races.

In what would go against a traditional American ethos of paying back what your borrow, any debt relief proposal, if implemented, would force taxpayers to pay for part of these students’ education debt.

President Biden is nearing his decision with his team zeroing in on canceling $10,000 per borrower, with some potential caveats. During his 2020 campaign Joe also supported forgiving a portion of federal student loans per person but only after student loan forgiveness became part of the other leading candidate’s platforms.

Multiple reports indicated Biden considered using the weekend commencement ceremonies to announce some student debt forgiveness, with The Washington Post reporting the timing was changed in the wake of a school shooting in Uvalde, Texas, that left 19 children dead. A White House official disputed that was the case, however.

“No decisions have been made yet — but as a reminder, no one has been required to pay a single dime of student loans since the president took office,” deputy press secretary Vedant Patel said.

Multiple sources told The Hill in late April that Biden was looking at canceling at least $10,000 in student debt, and indications are the White House appears to have settled on that number even as they work through

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The Washington Post reported Friday that the latest iteration of the plan called for capping the debt forgiveness to individuals who earned less than $150,000 last year, or $300,000 for married couples. It is also unclear if the cancellation would apply to all student loan debt or just undergraduate students.

Far-left radicals including Senators Elizabeth Warren (D-Mass.), Bernie Sanders (I-Vt.), and Senate Majority Leader Charles Schumer (D-N.Y.) have also pushed Biden on the issue, insisting it would provide immediate relief to minorities and low-and middle-income families.

Progressives have been more aggressive, calling for canceling up to $50,000 of loan debt. Biden quickly dismissed this higher amount but has increasingly made it clear that he is prepared to provide some student debt forgiveness.

“I am not considering $50,000 debt reduction, but I’m in the process of taking a hard look at whether or not there will be additional debt forgiveness and I’ll have an answer on that in the next couple of weeks,” Biden said on April 28, days after he reportedly told members of the Congressional Hispanic Caucus he was open to forgiving some student loans.

The White House is reportedly still looking into what authority the president has to unilaterally wipe out some debt.

As a conservative, I don’t agree with government handouts, which this student loan debt forgiveness would be another very expensive one.

I also don’t believe the president has the authority to modify thousands of student loan agreements, and hopfully any formal attempt to do so is challenged in the courts.

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Conservative independent talk show host and owner of https://MAGABOOK.com. USMC Veteran fighting daily to preserve Faith - Family - Country values in the United States of America. Check out my podcast - https://www.spreaker.com/show/finish-the-race

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