BREAKING: President Joe Biden has announced a mass student loans forgiveness program.
The White House has long teased"canceling" $10,000 per borrower of student loans, which would mean shifting the debt on to taxpayers, but it finally announced the details of the program on Wednesday. In keeping with my campaign promise, my Administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023.
"What does it say for all those folks? Boy, you were really stupid here," former Education Secretary Betsy DeVos told the Washington Examiner in June. One issue that conservatives and progressives largely agree on is that reforms need to be made in order to prevent future borrowers from racking up similar levels of debt. The White House, however, has not laid out firm plans to attack that aspect of the loans situation.
Another question is whether Biden has the legal standing to take action on loans without Congress. House Speaker Nancy Pelosi said in 2021 that the president cannot move without Congress, and most on the Right agree.
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