The Biden administration has unveiled another jaw-dropping $4.28 billion in student loan handouts, this time targeting 54,900 public sector workers, as reported by Fox News.
As President Biden and Vice President Harris gear up to leave the White House, their spend-happy approach to governing continues to pile up.
With this latest move, the administration has pushed the total approved student loan forgiveness under Biden to a staggering $180 billion, affecting nearly 5 million borrowers.
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Education Secretary Miguel Cardona proudly declared on Friday,”Four years ago, the Biden-Harris Administration made a pledge to America’s teachers, service members, nurses, first responders, and other public servants that we would fix the broken Public Service Loan Forgiveness Program, and I’m proud to say that we delivered.”
Delivered what exactly, one might ask? More taxpayer burdens.
The administration is celebrating the so-called transformation of the Public Service Loan Forgiveness (PSLF) Program, which erases the remaining balance for public servants after 120 qualifying monthly payments.
Cardona added, “The U.S. Department of Education’s successful transformation of the PSLF Program is a testament to what’s possible when you have leaders, like President Biden and Vice President Harris, who are relentlessly and unapologetically focused on making government deliver for everyday working people.”
Translation: a big payday for those who fit the administration’s preferred narrative.
This handout conveniently follows the administration’s push for limited PSLF waivers and regulatory changes, which expired in October 2022 but still benefit borrowers.
The goal, according to Biden’s team, is to incentivize public servants to stick with their careers by dangling the carrot of loan forgiveness.
The move aligns with Biden’s 2020 campaign promise to forgive student loans for millions of Americans—a promise fraught with legal challenges.
Earlier this year, the Supreme Court struck down Biden’s broad-based student loan forgiveness plan, ruling it unconstitutional. Instead of accepting the decision, Biden and his team have scrambled to find new ways to funnel taxpayer dollars into loan cancellations.
It’s worth noting that President-elect Trump hasn’t laid out specific plans regarding Biden’s handouts but has made it clear he intends to revamp the education system entirely.
One can hope his approach will prioritize accountability and real solutions over politically motivated giveaways.
As Biden and Harris prepare to bow out, their penchant for “relief” programs serves as a stark reminder of the left’s addiction to big government and endless spending. For hardworking Americans, the bill for these so-called “life-changing” initiatives continues to grow.
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Source: https://www.rvmnews.com/2024/12/biden-and-harris-push-4-28-billion-loan-relief-before-departure/
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