Joe Biden abruptly withdrew two of his major student loan forgiveness plans on Monday.
Biden used the student loan forgiveness plans to buy votes and now that he lost the 2024 election, he has abandoned his plan and left millions of borrowers in lurch.
Joe Biden unilaterally announced a massive forgiveness of student loans last August to buy the Gen Z-Millennial vote in the 2022 midterms.
After his initial loan forgiveness announcement, Biden continued to unveil new ‘workarounds’ following the Supreme Court’s decision to strike down the debt cancelations.
It was reported earlier this month that President Trump has plans to immediately unwind Joe Biden’s unconstitutional student loan forgiveness program.
The Trump Transition team is working to immediately rescind Biden’s student loan forgiveness plan.
“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.
Biden backed off from his student loan cancelation plans because his political career is over. It was all a political stunt.
CNBC reported:
The Biden administration has withdrawn two major plans to deliver student loan forgiveness.
The proposed regulations would have allowed the U.S. Department of Education secretary to cancel student loans for several groups of borrowers, including those who had been in repayment for decades and others experiencing financial hardship.
The combined policies could have reduced or eliminated the education debts of millions of Americans.
The Education department posted notices in the Federal Register last week that it was withdrawing the plans, weeks before President-elect Donald Trump enters the White House.
The Education department did not immediately respond to a request for comment.
The post BREAKING: Joe Biden Leaves Millions of Borrowers in Lurch, Abruptly Withdraws His Student Loan Forgiveness Plans appeared first on The Gateway Pundit.