Despite the Supreme Court ruling against the Biden administration paying off huge sums of student loan debt for millions of borrowers, President Biden announced on Friday that he would be doing exactly that, erasing $39 billion in federal student loans.
(Video Credit: NBC News)
The actual announcement came from the Department of Education which stated that it “will begin notifying more than 804,000 borrowers that they have a total of $39 billion in federal student loans that will be automatically discharged in the coming weeks.”
“For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness,” US Secretary of Education Miguel Cardona crowed in a statement, according to Fox Business. “Today, the Biden-Harris Administration is taking another historic step to right these wrongs and announcing $39 billion in debt relief for another 804,000 borrowers.”
“By fixing past administrative failures, we are ensuring everyone gets the forgiveness they deserve, just as we have done for public servants, students who were cheated by their colleges, and borrowers with permanent disabilities, including veterans,” he continued. “This administration will not stop fighting to level the playing field in higher education.”
The Department of Education was lengthy in its announcement of the socialistic wiping of debt, in effect giving the middle finger to the Supreme Court.
The Biden-Harris Administration has automatically forgiven $39 BILLION in student loans for 804,000 borrowers.
Eligible borrowers will be notified starting today if they qualify for automatic forgiveness. pic.twitter.com/GzeLK6lAZn
— Pop Crave (@PopCrave) July 14, 2023
The Department of Education asserted that the “forthcoming discharges are a result of fixes implemented by the Biden-Harris Administration to ensure all borrowers have an accurate count of the number of monthly payments that qualify toward forgiveness under income-driven repayment (IDR) plans.”
“These fixes are part of the Department’s commitment to address historical failures in the administration of the federal student loan program in which qualifying payments made under IDR plans that should have moved borrowers closer to forgiveness were not accounted for,” the agency added. “Borrowers are eligible for forgiveness if they have accumulated the equivalent of either 20 or 25 years of qualifying months.”
“The Department will continue to identify and notify borrowers who reach the applicable forgiveness thresholds (240 or 300 qualifying monthly payments, depending on their repayment plan and type of loan) every two months until next year when all borrowers who are not yet eligible for forgiveness will have their payment counts updated,” the government body went on to comment.
When a political scam is overturned by the Supreme Court, yet a renegade president ignores the law nonetheless, how does the government enforce the settled law? Can any constitutional scholar answer that question? I’ve often wondered how enforcement works. https://t.co/QSKgkhU7yq
— James Woods (@RealJamesWoods) July 14, 2023
Enter President Biden and Vice President Kamala Harris who couldn’t wait to pander to the masses over the forgiveness of student debt before a major election.
Harris stated that she and the president “are committed to delivering relief to student loan debt borrowers to help them move forward with their lives — whether they want to start a family, buy a home, or become an entrepreneur.”
“We will not stop there,” she vowed. “Last month, President Biden announced we are pursuing an alternative path to provide relief through the Higher Education Act, and we finalized our new income-driven repayment plan – which will cut monthly payments in half for undergraduate loans. Our Administration will continue to fight to make sure Americans can access high-quality postsecondary education without taking on the burden of unmanageable student loan debt.”
The move comes just two weeks after the Supreme Court ruled that the Biden administration could not proceed with its student loan debt handout program in a 6-3 decision. It held that federal law does not allow the secretary of education to cancel over $430 billion in student loan debt.
Response to the announcement came in hot and heavy on Twitter:
In show of contempt for Supreme Court and US Constitution, Biden moves to spend $39 billion without congressional authorization in letting 800,000 student loan borrowers skip out on their debts.
— Tom Fitton (@TomFitton) July 14, 2023
BREAKING: Biden administration forgives $39 billion in student loan debt to more than 800,000 borrowers.
Keep paying your taxes, the lazy fucks need their debt paid.
— Gunther Eagleman™ (@GuntherEagleman) July 14, 2023
BREAKING: Joe Biden just used $39 billion of your tax dollars to forgive student loan debt to over 800,000 people.
Theft.
— Jordan Rachel (@TheJordanRachel) July 14, 2023
@SpeakerMcCarthy – Joe Biden thumbing his nose at his oath, the Constitution, & SCOTUS, & robbing hardworking Americans of their $ to sweeten the pot for select groups & indoctrination schools. What will you do about it?
Biden forgives $39 billion in student loan debt
— Politicat On GETTR/Truth (@politicat1) July 14, 2023
How is it fair to single out 45 million Americans for special treatment while ignoring 200 million who owe nothing? Defiant Joe Biden will again cancel 39 billion in student debt over the U.S. Supreme Court’s ruling that the cancelation program is an act of overreach. pic.twitter.com/0YNWVpyAfm
— Oliver North (@OliverLNorth) July 14, 2023
$39 Billion more Government Welfare #BidenWorstPresidentEver pic.twitter.com/yxeTTIUJ5o
— Johnny Utah (@JohnnyU31776738) July 14, 2023
Waking up to the news that the Biden admin forgives $39 billion in student loan debt to more than 800,000 borrowers is a massive gut punch.
I dont know how much more we can take.
— Spitfire (@DogRightGirl) July 14, 2023
DOE has announced today, it will begin to wipeout more than $39 Billion in Federal Student loans for 804k borrowers, this is THIEF, this is a form of discrimination against all of us who paid our way. Biden is using the power of the purse to buy LOYALTY to the DEMOCRAT party
— Concetta (@concetta8631) July 14, 2023
Those votes aren’t going to buy themselves, after all.
— Skeptical Stoic (@StoicSkeptical) July 14, 2023
Notice the pattern, they don’t care that it’s illegal, they know the time it takes to go through the system, untimely it’s shot down, the timing is important for election cycle talking points
— Sgt. Major $tel Divisionⓣ (@cryptocowboy27) July 14, 2023
He’s got to be able to say he canceled student debt to all the small brains that believed him and voted for him. Even if it’s just one person an $10, they will spin it into ‘the largest loan forgiveness in history’
— Cap’n Brunch™️ (@capnbrunchusa) July 14, 2023
Impeachment
— Billy Burnett (@BillyBurnett) July 14, 2023
BREAKING – IS THIS LEGAL? – @JoeBiden administration announces it has forgiven $39 billion in student loan debt to more than 800,000 borrowers.
U.S. Secretary of Education Miguel Cardona said in a statement, "For far too long, borrowers fell through the cracks of a broken system… pic.twitter.com/a9TTboKxCt
— Simon Ateba (@simonateba) July 14, 2023
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