White House announces $75B student debt cancellation to give ‘breathing room,’ takes dig at House GOP

JK News Live

Sheikh Imran

Biden handouts announced as national debt tops $34.5 trillion

The White House on Friday announced it’s canceling an additional $75 billion in debt as part of the Biden administration’s most recent attempt at widespread student loan forgiveness ahead of the election

The administration announced the handouts, targeted at an estimated 277,000 borrowers across the country, with the national debt topping $34.5 trillion.

Biden touted his Saving on a Valuable Education (SAVE) plan, which originated after the Supreme Court struck down Biden’s student loan forgiveness plan.


“These 277,000 borrowers are enrolled in my administration’s SAVE Plan, or were approved for relief because of fixes we made to Income-Driven Repayment Plans and Public Service Loan Forgiveness,” Biden said in a news release. “From day one of my administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity.”

The president promised to “never stop” working to cancel student debt — taking a dig at Republican lawmakers who have opposed altering student loan repayment plans.

“I will never stop working to cancel student debt — no matter how many times Republican elected officials try to stop us,” he will say.

‘Using every tool’

“Republican elected officials across 18 states want to prevent their own constituents from benefiting from the SAVE plan,” White House Press Secretary Karine Jean-Pierre said. “They want to end SAVE and make their constituents’ monthly payments go up and keep them under mountains of loan debt with no end in sight.”

“The president will continue fighting to give people more breathing room and using every tool at his disposal to help borrowers.”

Since President Biden took office, his administration has approved over $54 billion in debt cancelation for 1.4 million borrowers enrolled in programs similar to the SAVE plan.

Biden has also canceled debt for nearly 900,000 public service workers, 1.3 million borrowers cheated by their schools or borrowers covered by related court settlements, and nearly 550,000 borrowers with a total and permanent disability, including many veterans, the White House will say in the announcement.

Bailey’s lawsuit comes just weeks after Kansas and 10 other states sued the Biden administration over the same plan.

“With the stroke of his pen, Joe Biden is attempting to saddle working Missourians with a half trillion dollars in debt. The United States Constitution makes clear that the President lacks the authority to unilaterally ‘cancel’ student loan debt for millions of Americans without express permission from Congress,” Bailey told Fox News Digital.

“The president does not get to thwart the Constitution when it suits his political agenda. I’m filing suit to halt his embarrassing attempt to buy the 2024 election in direct violation of the law. The Constitution will continue to mean something as long as I’m Attorney General.”

The White House did not immediately respond to a request for comment from Fox News Digital

Sheikh Imran

Sheikh Imran is a Kashmiri Based Journalist  Working at JK News Live as a Reporter Since 2021.

Email: [email protected]

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