‘Straight Up Buying Votes’: Biden Erases $1.2B In Student Loans

(Republican Insider) – President Joe Biden’s approval ratings are in the toilet and after the report from Special Counsel Robert Hur, which basically confirmed he is experiencing some serious memory issues — what we would call dementia or cognitive decline — more voters than ever before believe he’s unfit to discharge the duties of the president and should probably not be given another four years in the White House. How is Biden attempting to make up some lost ground? Simple.

He’s buying votes.

Yes, Joe Biden is buying votes, but he’s doing it by canceling an additional 153,000 student loans in order to pull in additional ballots before the election in November. This reeks of desperation. Clearly, the president is well aware he doesn’t stand much of a chance against Trump, who is probably going to be the GOP nominee. You don’t just openly employ a strategy like this if you are confident the American people stand behind your presidency.

“The blatant move shamelessly seeks to garner votes from those enrolled in his signature repayment plan. The president will email those who are having their debt forgiven starting on Wednesday. It will total $1.2 billion. It should be noted that the Supreme Court ruled the cancellation of student loan debt by Biden was unlawful, but that hasn’t stopped him from doing it,” BizPac Review reported.

“The notice makes good on the administration’s promise to accelerate forgiveness for borrowers with low original balances who are enrolled in the Saving on a Valuable Education (SAVE) plan. Rather than wait 20 to 25 years for relief through other income-driven repayment plans, enrollees in the SAVE plan who borrowed less than $12,000 can have their debt wiped clean after 10 years of payments. The Education Department had originally planned to begin forgiveness in July but started identifying eligible borrowers this month,” The Washington Post noted pointing out the timeline move-up,” the piece continued.

“Congratulations—all or a portion of your federal student loans will be forgiven because you qualify for early loan forgiveness under my Administration’s SAVE Plan,” Biden’s email message went on to tell the affected borrowers. “I hope this relief gives you a little more breathing room.”

“The administration says that it has now approved loan discharges totaling nearly $138 billion for nearly 3.9 million borrowers through dozens of administrative actions since coming into office,” Politico pointed out.

One of the reasons this loan forgiveness nonsense is so egregious is that the money these people owe is not simply disappearing into thin air. Someone else is picking up the tab. It just so happens that those who have worked really hard, who paid off their own loans, and are trying to provide a good life for their families are the ones paying off these debts. That hardly seems fair, especially since it is compulsory in the form of taxation. It’s not voluntary giving or assistance. Also, this move didn’t go through Congress, proving once again that this president cares little for the rule of law and how government works. Decisions like this make Biden more akin to a dictator than the president of a republic.

“People who are notified do not need to take any further action to receive loan forgiveness. Student loan servicers, the middlemen who collect payments on the federal government’s behalf, will begin discharging the debt in coming days, according to the department. Next week, the agency plans to directly contact borrowers who would be eligible for early cancellation under the SAVE plan but are not currently enrolled,” The Washington Post went on to say.

“This plan reflects our unapologetic commitment to deliver as much relief as possible to as many borrowers as possible, as quickly as possible,” Education Secretary Miguel Cardona said in comments delivered to reporters on Tuesday. “We’re providing real, immediate breathing room from an unacceptable reality where student loan payments compete with basic needs.”

“[I]f you’ve been paying for a decade, you’ve done your part, and you deserve relief,” Cardona proclaimed in his statement.

A total of 7.5 million borrowers out of 40 million who owe student loan debt have enrolled in the president’s SAVE plan. The plan connects monthly student loan payments to an individual’s family size and earnings. It “increases the amount of income protected from the calculation of debt payments from 150 percent to 225 percent of the federal poverty line,” WaPo divulged.

The article then notes that if a person is making less than $15 an hour, they are not required to pay back their student loan debt. Borrowers who are making more than that figure will end up saving a thousand dollars a year. The Department of Education has released estimates that 4.3 million folks who have enrolled in the president’s plan will have no monthly payment at all.

“The department began introducing some features of the SAVE plan in time for the resumption of student loan payments in October. This summer, the federal agency will start capping payments for undergraduate loans to 5 percent — down from 10 percent — of income above the 225 percent federal poverty threshold. Borrowers with debt from undergraduate and graduate studies will pay a weighted average between 5 and 10 percent toward their debts,” The Washington Post report added.

“Republicans have slammed Biden’s SAVE program as unfair and fiscally irresponsible, blasting the hundreds of billions of dollars the program is expected to cost,” Politico disclosed.

Here’s what users on social media had to say about Biden’s move:

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3 COMMENTS

  1. Let those who have their loans “forgiven” that they may STILL have to pay it back regardless of what “Beijing Joe” Biden says. The courts says that it is ILLEGAL, like MANY programs the Democrats have enacted like the DREAMERS act.

  2. This is called PANDERING=Give away $$ So those people will vote for Joe= Its an old political
    scheme= This is one thing Joe is good at.Here is some goodies, now remember me when you vote== E/T/

  3. What is the Supreme Court going to do about this?? Can’t they stop him?? If not whats the SC worth
    with a renegade in the White House above the law???? And giving the court the finger!!!
    Biden is a CANCER on our country and thinks he is a Dictator….this is complete B/S …
    Whose going to step up and stop him???

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