Americans School Biden on Student Loan Handouts

The U.S. Supreme Court is beginning to examine the legality of President Biden’s student loan handout plan. Americans are now voicing their opinion as they weigh the fiscal move’s impact on taxpayers.

“I’m currently not a fan because that’s just going to make everyone else’s taxes higher, because someone’s going to have to pay for it,” one young person told FOX Business’ Lydia Hu in a man-on-the-street-style “Varney & Co.” segment.

The Biden administration announced a plan to cancel $10,000 of federal student loans for those earning less than $125,000 annually or households making less than $250,000 per year, just before the midterm elections. This would apply only to individuals who earn less than $125,000 each year and households earning less that $250,000 per annum as of 2020/2021. Recipients of Pell Grants – who typically demonstrate greater financial need – would receive an additional $10,000 in debt cancellation.