Politics

BUYING VOTES: Biden Admin Set to Forgive Another $1.2B in Student Loans

posted by Hannity Staff - 2.21.24

According to a report from The New York Post, the Biden Administration said on Wednesday it is canceling $1.2 billion worth of student loans for some 153,000 people who are eligible under a program used to make good on promises to increase loan forgiveness.

Biden continues to move forward with small student debt handouts despite the Supreme Court blocking a larger $430 billion dollar Biden initiative last June.

From The New York Post:

The administration has now canceled some $138 billion in student debt for nearly 3.9 million people through executive actions, the White House said.

The latest announcement applies to people enrolled in a repayment program known as Saving on a Valuable Education (SAVE) and covers those who borrowed $12,000 or less who have been repaying the money for at least 10 years.

The move will “particularly help community college and other borrowers with smaller loans and put many on track to being free of student debt faster than ever before,” the White House said.

Left-leaning progressive and young voters, whose support Biden needs to win re-election in November, have been vocal in advocating for student loan forgiveness on a wide scale.

Back in 2021, then-House Speaker Nancy Pelosi stressed that President Biden didn’t have the power to forgive student loan debt, but that clearly hasn’t stopped him.

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