Joe Biden has made another massive effort to buy votes with tax dollars with student loan forgiveness. He is violating the Constitution, and this new venture will not happen. However, he is only proceeding with it to get people to vote for him. It’s a ruse.
He is sending out tens of millions of emails to Americans telling them of potential options heading their way. The options are to get their student loans forgiven.
They will have until August 30th to call their servicer and opt out if they do not want this relief. The Department of Education plans to finalize the rules in the fall.
THE JACKPOT WINNERS
“These rules, if finalized as proposed, would bring the total number of borrowers eligible for student debt relief to over 30 million, including borrowers who have already been approved for debt cancellation by the Biden-Harris administration over the past three years.”
The DOE added that the “e-mail does not guarantee specific borrowers will be eligible.”
“The largest handout of taxpayer dollars to borrowers will be to those who now owe more money than they did at the beginning of the repayment of their loans.” They claim their problems arose because of “runaway interest.” However, the reason this happened is that most of the borrowers chose never to pay a dime toward the principal, just the interest.
“The runaway interest is due to the government’s wild spending. These “forgiveness” efforts will add to the debt. They burden taxpayers who never took out the loans or earned the degrees.
“More than 25,000,000 borrowers owe more than they originally borrowed, including many who made years of payments, due to the interest that accrued on federal student loans,” the DOE said in April.
The group would get automatic relief up to $20,000 of the amount, and then the education department can forgive the entire amount.
Eligible people can make $120,000 if they’re single or $240,000 if they’re a couple.
An additional rule would relieve 2.6 million borrowers who still have outstanding debt on two-decade-old loans.
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