President Biden is at it again with his never-ending wave of federal student loan forgiveness. Brace yourselves, folks, because after a three-year pause during the pandemic, those loan payments are about to come back with a vengeance. But fear not, dear borrowers, because Biden is here to save the day!
According to an anonymous White House official, Biden’s latest move will benefit a whopping 125,000 borrowers by wiping out a cool $9 billion in debt. Now, that may sound like a lot, but it’s just a drop in the bucket compared to the $127 billion that Biden has already erased since taking office. Talk about a debt-slaying superhero!
It seems that Biden is determined to make good on his promise to alleviate the burden of student debt, even though his original plan got smacked down by those pesky conservative Supreme Court justices. But hey, who needs one big plan when you can just patchwork your way through, am I right? Biden has been using a variety of programs, like the public service loan forgiveness and the cleverly named SAVE Plan, to nibble away at the debt monster.
Education Secretary Miguel Cardona couldn’t be happier about all of this debt forgiveness. He credits Biden’s “relentless efforts” for fixing the broken student loan system and giving millions of borrowers the relief they deserve. It’s like Santa Claus coming to town, except instead of presents, he’s just waving his magic wand and making your debt disappear.
His latest step will help 125,000 borrowers by erasing $9 billion in debt through existing relief programs. https://t.co/jZyZe0F86V
— KBTX News (@KBTXNews) October 4, 2023
Of course, the Republican party is not too thrilled about all of this student loan forgiveness. They’ve been putting up a fight against Biden’s plans, but it seems like the infighting on Capitol Hill has distracted them from their usual resistance. I guess they were too busy ousting their own House speaker to worry about those pesky student loans. Oops!
So, get ready, folks. Biden is about to announce his latest round of debt erasing goodness. Whether you love him or hate him, you can’t deny that he’s making a big splash in the world of student loans. Keep your eyes peeled for more updates, and maybe, just maybe, your student debt nightmares will finally come to an end.