By Mark Gray
8:52am PDT, Apr 14, 2024
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The president is trying to deliver on student loan forgiveness again.
On April 9, Joe Biden unveiled a plan he said will be "life changing" for millions of Americans who've accrued thousands of dollars in student debt, making it harder for them to buy homes or make financial gains. "While a college degree still is a ticket to the middle class, that ticket is becoming much too expensive. Much too expensive," the POTUS said at an event in Wisconsin. "The ability for working and middle-class folks to repay their student loans has become so burdensome that a lot can't repay it for even decades after being in school."
Under the new plan, relief would be given to five groups: those who have been in repayment for 20 years or more, those with debt who attended "low-financial-value programs," those experiencing hardship in paying back their loans, those whose balances ballooned because of interes, and low- and middle-income borrowers who qualify for forgiveness but haven't applied.
Prior to the rollout and after the rollout, Congressional Republicans came out in force to oppose the plan, and they did so vocally and in droves on social media. Several Democrats, though, applauded the move (which Biden campaigned on) and compared it to the pandemic-era PPP loans given out under then-President Donald Trump, most of which were completely forgiven.
"By freeing millions from the crushing burden of student debt, folks can finally get on with their lives — starting families and buying homes," Biden wrote on X. One day earlier, he penned, "I said I wouldn't back down from using every tool at our disposal to get student loan borrowers the relief they need. That's why today we're announcing new plans that, if implemented, would cancel student debt for millions more."
Then on April 12, Biden announced, "Today, my Administration is canceling student debt for 277,000 more people — bringing the total number of Americans who have been approved for debt relief so far under my Administration to 4.3 million through various actions. I will never stop working to cancel student debt."
Keep reading to see what's being said about the latest student loan relief plan…
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"Biden's debt transfer scheme puts the burden on taxpayers, forcing the 87% without loans to foot the bill for the 13% who do. Saddling the hardworking taxpayers of America with such a debt transfer will only make life more unaffordable. He's buying votes during an election year," Rep. Kevin Hern penned on X. The White House responded: "Congressman Kevin Hern had $1,082,302 in PPP loans forgiven."
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"The Supreme Court has already determined that the White House does not have the authority to 'cancel' student loan debt, and yet the administration is once again trying to buy votes by supposedly 'forgiving' millions of dollars in loan debt. The reality is that these debts are not 'forgiven,' they are merely transferred to American taxpayers, many of whom made sacrifices to get an education they could afford. It is only just and fair for borrowers, not the American people, to be responsible for paying off their own debts." —House Speaker Mike Johnson
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"The Biden administration just announced a plan for 30 MILLION student loan borrowers to receive debt relief. This would allow so many people with student debt to buy houses, start a family, go back to school, and so much more." –Rep. Alexandria Ocasio-Cortez
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"Joe Biden once again announces that he will transfer millions more in student debt onto the backs of hardworking taxpayers. This scam is nothing more than a desperate attempt to buy votes with Americans' hard-earned money," Rep. Andrew Clyde wrote on X.
The White House responded, "Congressman Clyde had $156,697 of debt forgiven from a PPP loan."
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"By 'cancelling student loan debt,' Joe Biden is telling blue-collar workers he doesn't care about them. This is nothing but a vote-buying scheme by the Democrats." —Sen. Ted Cruz
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"Let me applaud the President for using every possible tool to reduce student debt. Instead of giving more tax breaks to billionaires as Trump has proposed, Pres. Biden is providing financial relief to millions of low-income & working class Americans. It's the right thing to do." —Sen. Bernie Sanders
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"Today, we're hitting a big milestone: over 4 million Americans have gotten student debt relief thanks to @POTUS! And President Biden isn't stopping there. This week, he announced a plan to help 30 million people with their student debt. This will be transformative!" –Sen. Elizabeth Warren
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"There is no such thing as 'canceling' student loans.This is nothing but an elaborate scheme to redistribute wealth by forcing the debts of some individuals onto the working class of America. In case the President needs a reminder, people don't accidentally take out student loans. Like any other form of debt, the borrower knowingly agrees to take the loan with the understanding that he or she is responsible for its repayment in full, typically with interest. Stop trying to buy votes on the taxpayers' dime, @POTUS" —Rep. Andy Ogles
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"New Biden-Harris plans could relieve 29 million more Americans of student loan debt." —Hillary Clinton
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"Big news: @POTUS has now forgiven over $153 BILLION in student loan debt for 4.3 million people. By investing in our people, we invest in a brighter future for all. #PromisesKept" –Rep. Jim Clyburn
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"If you take out a loan, you pay it back. There's no reason to ask nurse's aides and welders to pay for the student loans of doctors and lawyers making six figures. This is another ridiculous effort from President Biden to appease his base with massive giveaways." —Sen. Tim Scott
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"@POTUS's student loan debt forgiveness spends money we don't have, further plundering our children's future." —Sen. Ron Johnson
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"This is great news! It'll put more money back into people's pockets and give student loan borrowers in Virginia much-needed breathing room and relief. Taking steps like this to lower costs for Virginians continues to be one of my highest priorities." —Sen. Tim Kaine
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"Despite having one hand tied behind his back, President Biden has still managed to cancel billions in student loan debt. But as we work to deliver even more meaningful relief," —Senator and Reverend Raphael Warnock
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"President Biden's plan to forgive millions of student loans will not only free Americans from a lifetime of debt, but also make our workforce stronger and more globally competitive. A win for everyone!" —Rep. Katie Porter
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"Since @POTUS took office—I've urged him to do everything in his power to #CancelStudentDebt
His expected additional exec action will greatly reduce the burden of student loans for millions
We won't stop until crippling student debt is a thing of the past" —Sen. Chuck Schumer
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"There's no such thing as 'canceling' student loans. Someone always has to pay. Once again, President Biden's plan ignores the Supreme Court and transfers the amount owed to American taxpayers, many of whom never went to college or have already honored what they owe." —Rep. Steve Womack
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"Over 6,000 people with student loans in Hawai'i will get nearly $340M in debt forgiveness thanks to these new plans from @POTUS. It brings the total number of people who will have debt relief to 30 million" —Sen. Brian Schatz
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"This is nothing but a political ploy to buy votes in an election year. The Supreme Court already ruled that Joe Biden's student loan scheme is ILLEGAL. This is not loan forgiveness — it's debt redistribution." —Sen. Tommy Tuberville
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"America already has a solution to student debt: It's called a job. Pres. Biden lost his last unconstitutional student loan scheme at the Supreme Court. But now, he's trying to buy votes again." —Sen. John Kennedy
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"American taxpayers, including those who didn't go to college, should not be forced to foot the bill for Joe Biden's student loan bailout." —Rep. Tom Emmer
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"87% of Americans don't have student loans. Why should they be forced to foot the bill of the 13%?" —Rep. Troy Nehls
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"Joe Biden's 'student loan forgiveness' plan is a complete scam. It forces hardworking Americans like you to bail out those who willingly took on heavy college debt & haven't paid it off." —Rep. Richard Hudson
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"How many times do we have to tell President Biden he doesn't have the authority to "forgive" student loans? He cannot do this. Only Congress can, and I will not let that happen because this isn't forgiveness. It's redistributing debt from people who agreed to pay their own education loans onto all Americans!" –Sen. Jim Risch
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"This is not a debt cancellation. It's a debt transfer. Once again, President Biden is pushing a misguided student loan scheme that will force taxpayers to foot the bill for loans they didn't take out." —Sen. Deb Fischer
