Joe Biden will issue a new proposal to reduce or eliminate student loan balances for millions of borrowers. He’s losing young people in droves, so he’s coming up with another bribe.
The regulations might come out as soon as next week. The Wall Street Journal reports that this is another large-scale student loan forgiveness plan.
The administration’s plan allows them to forgive student loans non-stop until election day.
Biden needs the electoral boost. Some Democrat strategists have told Democrats to stop registering young people because they’re going for Trump.
It will face legal action from the Republican attorneys general who brought the first proposal to the Supreme Court and won. Biden doesn’t care that he’s breaking the law. He’ll just keep doing it but phrase it slightly differently, pretending this is a legal approach, not like the first.
People will have their loans forgiven over financial hardships, high debt loads, low income, and all kinds of categories.
They’re going to base it on the 1965 Higher Education Act.
He has no legal right to make taxpayers who didn’t take out the loans pay off the loans of people who took them out.
The Higher Education Act requires the education department to conduct a negotiated rule-making process, which they will not do.
They are clearly overstepping their authority. This is nothing more than a bribe for votes, and he’s using tax dollars to do it even though we are deeply in debt. It’s also setting a precedent that people can take out loans and not pay them off. That’s not American.
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