Want A Say In Biden’s New Student Loan Forgiveness Plan? Here’s What To Do
ForbesJul 04, 2023
The Facts
US Pres. Joe Biden's administration announced Friday that it would automatically forgive $39B in student debt for 804K borrowers.
The debt forgiveness comes after the government reportedly fixed the student loan system's income-driven repayment plans, which allowed it to cancel borrowers' residual debt after 20 or 25 years of payments, depending on when they borrowed and their loan and plan type.
The Spin
Democratic narrative
For far too long, the American working class has been made collateral damage by a dysfunctional student loan system. This new and improved student loan system could provide a breather to hundreds of thousands of vulnerable and marginalized youth who have unfortunately fallen through the cracks.
Establishment-critical narrative
Pres. Biden's determination to forgive millions of dollars of student debt is a slap in the face to hard-working taxpayers. Despite SCOTUS ruling his previous plan unconstitutional, he's dead set on ruining the American higher education system to buy himself a few votes come next November.
