The Biden/Harris administration’s approach seems to involve throwing vast sums of taxpayer money at various issues, including the student loan debt problem. Despite students signing contracts and agreeing to repayment terms, they are now protesting against having to fulfill their financial obligations.
Well, the Biden/Harris administration, virtually on their way out the door, is throwing a few billion more at these whiners.
During their time in the White House, the Biden administration has announced an additional $4.28 billion in student loan relief measures.
The massive loan handout will give 54,900 public workers loan forgiveness.
Secretary of Education Miguel Cardona stated, “Four years ago, the Biden-Harris Administration committed to fixing the flawed Public Service Loan Forgiveness Program for America’s teachers, service members, nurses, first responders, and other public servants. I am proud to announce that we have delivered on that promise,” in a release issued on Friday.
The action brings the total loan forgiveness approved by Biden to nearly $180 billion for nearly 5 million borrowers.
The administration is touting this as an incentive for federal chair-warmers to remain in government. To a certain extent, I can see that; back in the day, the Army offered student loan repayment as part of your retention incentives, the official line being that the service needed smart, educated leaders. But you can carry a good thing too far, and extending something designed to keep warfighters in the service grows a little silly when it’s extended to bureaucrats.
Here’s the onion:
During his 2020 presidential campaign, Biden pledged to forgive student loans for millions of Americans if elected, but the president has faced continuous legal roadblocks in his attempt to eliminate hundreds of billions of dollars in debt.
Yes, he did — until the courts stamped the brakes on that illegal idea.
