The Biden Administration yesterday announced that it would pay off billions in student loans for a select group of Americans.
Yesterday the Biden gang announced they were going to forgive billions in student loan debt. As TGP reported:
An estimated $300 billion of loans up to $10,000 per borrower making under $125,000 per year ($250,000 for couples) as well as up to $20,000 for Pell Grants will be forgiven by the Biden administration citing a new interpretation of the 2003 HEROES Act by Biden admin lawyers that says the secretary of Education has the authority to use national emergencies–specifically the COVID pandemic–to wipe out student debt en masse.
The student loan forgiveness plan will cost billions while primarily helping the upper class.
According to the Penn Wharton Budget Model, Biden’s student loan bailout will cost $300 billion in 2022 alone, and almost 70% of the benefits will go to households in the top 60% of earners. https://t.co/ln9nNP8MdN
— RNC Research (@RNCResearch) August 24, 2022
Those who saved to put their children through college and not accumulate debt, or those who sent their children to less expensive schools because they couldn’t afford the schools they wanted, or those who paid off their school loans over years and even decades are forgotten in Biden’s action.
This bill only helps those who accumulated massive debts, including those with garbage degrees that pay nothing in the real world.
One individual who paid for his own kids’ schooling by saving and working hard asked far-left Senator Elizabeth Warren if he would be reimbursed as well.
The exchange took place back in 2020.
“I’ve saved all my money. [My daughter] doesn’t have any student loans. Am I going to get my money back?”@eWarren: “Of course not.”
“So you’re going to pay for people who didn’t save any money and those of us who did the right thing get screwed.” pic.twitter.com/eqK7o4Cl9Q
— Washington Examiner (@dcexaminer) January 23, 2020