Joe Biden has been trying desperately to unilaterally cancel student loan debt in order to buy voters in the next election.
The Supreme Court rightly pointed out that it would be unconstitutional for him to do it by executive fiat.
But the amount of student loan debt Joe Biden has unilaterally canceled despite the Supreme Court ruling it unconstitutional will make you sick.
In an unsurprising turn of events for anyone who has paid even a smidge of attention to how Washington, D.C. actually works, the Biden regime has managed to unilaterally cancel over $48 billion in student loan debt since the Supreme Court ruled the President’s student loan forgiveness program was unconstitutional in June.
The Biden regime claims they’re simply correcting past administrative errors, and ensuring that borrowers receive the forgiveness they are entitled to, but Republicans – and anyone else with a functioning brain – know better.
One of the major strategies employed by the Biden regime involves recalculating past payments, a move that has resulted in the cancellation of nearly $42 billion for almost 855,000 borrowers enrolled in income-driven repayment plans.
These plans are designed to lower monthly payments based on a borrower’s income and family size, but often leave the Department of Education struggling to track payments accurately.
The recent recount provides credit toward forgiveness for any months in which payments were made, regardless of the repayment plan, rectifying what officials have dubbed “past administrative failures.”
However, the legality of this move is being challenged.
Critics argue that the Biden regime is attempting to circumvent the Supreme Court’s ruling, prompting a lawsuit by the Cato Institute and the Mackinac Center for Public Policy.
The regime has yet to respond, leaving many wondering about the legal grounds for the Biden regime to take such action unilaterally.
Another significant cancellation tactic involved the Public Service Loan Forgiveness (PSLF) program.
Since President Biden took office, $51 billion of student loan debt has been canceled for 715,000 borrowers through this program, which cancels federal student loan debt for public-sector workers after 120 qualifying monthly payments.
The Biden regime temporarily expanded the program’s eligibility in 2021, allowing borrowers to receive credit for past payments that previously didn’t qualify for PSLF.
While this temporary waiver ended in October 2022, the Biden Department of Education unilaterally made permanent changes to the program’s qualifying restrictions, enabling borrowers to receive credit even for late or lump-sum payments.
Additionally, the regime tackled the backlog of borrower defense claims, canceling $22.5 billion of student loan debt for over 1.3 million borrowers defrauded by their colleges.
Notably, the Biden regime also simplified the process for disabled borrowers, granting automatic discharges for those identified through administrative data matching with the Social Security Administration.
While these moves have supposedly provided relief to millions of Americans, questions about legality persist.
As the battle rages on in courts, borrowers and critics alike eagerly await the regime’s response, wondering if these controversial debt relief tactics will withstand legal scrutiny or crumble under the weight of legal challenges.
Joe Biden has proved to not know how to manage the country’s finances well, and this is most likely yet another example of his fiscal ineptitude and complete disregard for the rule of law.
US Political Daily will keep you updated on any developments to this ongoing story.
