The Biden administration announced on Friday, the approval of an additional $4.28 billion in student loan forgiveness for nearly 55,000 public service workers.
While U.S. Secretary of Education Miguel Cardona lauds this as a win for public servants, claiming the administration has “delivered” on its promises, the real cost of these actions is borne by everyday Americans struggling to make ends meet.
Cardona boasted in his statement about fixing the so-called “broken” Public Service Loan Forgiveness (PSLF) Program, praising Biden and Harris for their “unapologetic focus” on making government “deliver” for select groups.
What he didn’t mention is that this “delivery” comes at the expense of a ballooning national debt, now exceeding 100% of GDP—levels unseen since World War II. According to the New York Post, this reckless spending spree is pushing America further toward an economic tipping point.
“Four years ago, the Biden-Harris Administration made a pledge to America’s teachers, service members, nurses, first responders, and other public servants that we would fix the broken Public Service Loan Forgiveness Program, and I’m proud to say that we delivered,” said U.S. Secretary of Education Miguel Cardona in a statement.
“With the approval of another $4.28 billion in loan forgiveness for nearly 55,000 public servants, the Administration has secured nearly $180 billion in life-changing student debt relief for nearly five million borrowers.
“The U.S. Department of Education’s successful transformation of the PSLF Program is a testament to what’s possible when you have leaders, like President Biden and Vice President Harris, who are relentlessly and unapologetically focused on making government deliver for everyday working people,” he added.
This latest handout follows the Supreme Court’s rejection of Biden’s broader student debt cancellation plan earlier this year, a plan many saw as an unconstitutional overreach.
But true to form, Biden has simply circumvented the decision, doling out forgiveness in smaller increments, piecemeal, in what critics call a blatant disregard for the rule of law.
Earlier this month, Democrats and left-wing activists urged Biden to offer more student loan debt forgiveness.
These people know that the gravy train is coming to an end soon, and they want to maximize the grift while they still can.
“I’m urging the Biden administration in the closing hours of their administration – the last seven weeks – come to the rescue of these students as quickly as possible,” Sen. Dick Durbin (D-IL) said.
President Trump will immediately unwind Joe Biden’s unconstitutional student loan forgiveness program.
“President-elect Donald Trump is poised to pull the plug on President Joe Biden’s yearslong push to cancel student debt for tens of millions of people as Republicans sweep into power in the coming months,” Politico reported.
“Trump transition advisers and outside allies have been discussing ways to quickly unwind the various Biden-era initiatives that offered new or easier paths to loan forgiveness for borrowers, according to two people familiar with the discussions,” Politico reported.
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