Biden’s student loan forgiveness plan aims to secure votes, despite previous SCOTUS setback
In a bold move to secure votes for the upcoming 2024 election, President Biden reaffirmed his commitment to bailing out student loan borrowers on Wednesday, despite the U.S. Supreme Court ruling against the policy.
During a press conference, the president expressed frustration with the Congress, elected officials, and special interests who sued his administration, resulting in the Supreme Court blocking the policy. However, this setback didn’t deter him from pursuing his agenda.
Biden’s plan aims to “cancel” $1.2 billion in student loan debt for 153,000 borrowers currently enrolled in the Saving on a Valuable Education (SAVE) repayment plan, according to the White House. This comes after the forgiveness of 74,000 loans totaling $5 billion last month. However, it’s important to note that when Biden and his administration use terms like “canceling” or “forgiving” student loan debt, they are essentially transferring the debt from individuals who attended university to U.S. taxpayers who did not pursue higher education or have already paid off their loans.
The White House’s latest attempt to bail out student loan borrowers through the SAVE plan comes after the Supreme Court declared their previous debt cancellation policy unconstitutional. The Education Department had tried to justify the program by citing the HEROES Act, which allows loan waivers in connection with a war, military operation, or national emergency. However, the Court rejected this argument.
In a 6-3 decision, the Supreme Court ruled that the Biden administration does not have the authority to unilaterally waive such loans without congressional authorization. Chief Justice John Roberts, writing for the majority, described the White House’s plan as “staggering by any measure.”
Unsurprisingly, Biden’s move to bypass the Supreme Court and bail out student loan borrowers without congressional approval has faced criticism. Missouri GOP Sen. Eric Schmitt condemned the president’s announcement, accusing him of disregarding the law and acting in an authoritarian manner.
Prior to serving in the Senate, Schmitt was Missouri’s attorney general and played a key role in the lawsuit that led to the Supreme Court declaring Biden’s initial student loan bailout unlawful.
Biden’s Desperate Bid for Votes
Biden’s latest move reveals a desperate attempt to use taxpayer resources to sway the 2024 election in his favor.
Ahead of the president’s speech, Politico published a story highlighting the $1.2 billion bailout plan. The article emphasized how the White House intends to send emails to the affected borrowers, ensuring they know who to thank for the debt cancellation.
The story states, “But a challenge for the Biden reelection campaign and Democratic allies is making sure that the president gets credit for canceling that debt — even as the White House explores ways to further increase the number of Americans receiving loan relief.”
A leaked draft email obtained by Politico reveals the administration’s attempt to associate the debt forgiveness with President Biden. The email, titled “A Message From President Biden,” congratulates the recipients on qualifying for early loan forgiveness under the SAVE Plan and includes Biden’s signature.
It’s clear that the White House’s intentions are not purely compassionate. With Biden’s popularity among young voters declining, his administration is resorting to using taxpayer dollars to entice this demographic to support him. This aligns with their broader strategy of targeting and mobilizing young voters, particularly college students, to secure electoral victories.
Despite the administration’s attempts to frame the student loan bailout as an act of compassion, it is evident that the policy serves as a pay-for-play scheme to boost Biden’s chances of reelection.
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How does the Supreme Court ruling against the student loan debt cancellation policy impact President Biden’s commitment to bailing out borrowers?
The Bold Move: President Biden’s Commitment to Bailing Out Student Loan Borrowers
In a bold move to secure votes for the upcoming 2024 election, President Biden reaffirmed his commitment to bailing out student loan borrowers on Wednesday, despite the U.S. Supreme Court ruling against the policy.
During a press conference, the president expressed frustration with the Congress, elected officials, and special interests who sued his administration, resulting in the Supreme Court blocking the policy. However, this setback didn’t deter him from pursuing his agenda.
Biden’s plan aims to “cancel” $1.2 billion in student loan debt for 153,000 borrowers currently enrolled in the Saving on a Valuable Education (SAVE) repayment plan, according to the White House. This comes after the forgiveness of 74,000 loans totaling $5 billion last month. However, it’s important to note that when Biden and his administration use terms like “canceling” or “forgiving” student loan debt, they are essentially transferring the debt from individuals who attended university to U.S. taxpayers who did not pursue higher education or have already paid off their loans.
The White House’s latest attempt to bail out student loan borrowers through the SAVE plan comes after the Supreme Court declared their previous debt cancellation policy unconstitutional. The Education Department had tried to justify the program by citing the HEROES Act, which allows loan waivers in connection with a war, military operation, or national emergency. However, the Court rejected this argument.
In a 6-3 decision, the Supreme Court ruled that the Biden administration does not have the authority to unilaterally waive such loans without congressional authorization. Chief Justice John Roberts, writing for the majority, described the White House’s plan as “staggering by any measure.”
Unsurprisingly, Biden’s move to bypass the Supreme Court and bail out student loan borrowers without congressional approval has faced criticism. Missouri GOP Sen. Eric Schmitt condemned the president’s announcement, accusing him of disregarding the law and acting in an authoritarian manner.
Prior to serving in the Senate, Schmitt was Missouri’s attorney general and played a key role in the lawsuit that led to the Supreme Court declaring Biden’s initial student loan bailout unlawful.
Biden’s latest move reveals a desperate attempt to use taxpayer resources to sway the 2024 election in his favor.
Ahead of the president’s speech, Politico published a revealing article examining the political motivations behind Biden’s push to bail out student loan borrowers. According to the article, Biden sees this as a way to gain support from young voters, who are burdened by student loan debt. By promising to alleviate their financial struggles, Biden hopes to secure their votes in the upcoming election.
However, critics argue that this move is nothing more than a political ploy to buy votes and gain popularity. They argue that using taxpayer money to solve the student loan crisis is an unfair burden on those who did not pursue higher education or have already paid off their loans. Additionally, bypassing Congress and the Supreme Court sets a dangerous precedent and undermines the balance of power in our democratic system.
It is clear that the issue of student loan debt is a complex and challenging one. While it is important to address the financial struggles faced by borrowers, any solution should be fair, transparent, and considerate of the rights and responsibilities of all parties involved.
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