Magical Joe: $9B in student debt...POOF!

AP Photo/Jacquelyn Martin

Three days. After years of not having to pay a dime, the bill came due again for student loans as of this past Sunday.

Federal student loan borrowers will need to start making payments again this month after a three-year-plus pause due to the pandemic.

You should expect a bill that lays out how much you have to pay each month at least 21 days before your due date. It’s likely that most borrowers have received their bill already but if you have not, visit your loan servicer account. Interest started accruing again in September.

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Not three days later?

The old grifter just keeps giving the cha-ching away. If one court says he can’t do it the way he planned through that door, why, no worries.

He turns right around…

via GIPHY

…and shovels cash out a different window.

President Joe Biden announced Wednesday that he approved $9 billion in student loan forgiveness for 125,000 Americans.

The relief is a result of his administration’s fixes to a number of programs, including the income-driven repayment plans and Public Service Loan Forgiveness.

More than $5 billion of the aid will go to 53,000 borrowers who’ve worked in public service for a decade or more; $2.8 billion of the forgiveness is for 51,000 borrowers enrolled in income-driven repayment plans; and another $1.2 billion of the cancellation will go to 22,000 borrowers with disabilities.

Did you catch that? The largesse of your tax dollars was the result of his administration’s “fixes to a number of programs”?

I told you the fix was in.

…The announcement is likely to help Biden as he runs for reelection, experts say.

It took an “expert” to figure that out, did it?

…“Biden has forgiven more student loan debt than any previous president,” said higher education expert Mark Kantrowitz. “It distinguishes him from other candidates who are campaigning for the nation’s highest office.”

“Distinguishes” is not the word I thought of first. The other campaigns don’t have access to their own printing press. The $127B of other people’s money they’ve already given away can buy a whole lot of love, wouldn’t you think?

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Helluva war chest they’ve got there..

Let the false equivalencies commence!

Mush-mouth old fraud.

I wonder if I bought myself a shiny new Jeep Grand Wagoneer, the really big one…since it’s about the price of a college education, you think POTATUS’d pay it off for me if I whined that being required to literally pay for it made the debtunsustainable“?

President Joe Biden outlined a new round of federal student loan forgiveness on Wednesday to address the “unsustainable debt” that borrowers accumulate to complete their college education.

The announcement comes as borrowers brace for payments to restart after a three-year pause that began during the COVID-19 pandemic and Biden tries to fulfill his campaign promises on debt relief as he runs for reelection.

Probably not, huh? No doubt because the vehicle – while putting quite a crimp in my lifestyle – is obviously useful and would help me be productive, unlike many of these degrees we just gave away free to the people who voluntarily signed the loan papers.

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So, looks like I’ll wind up with no Grand Wagoneer for the same reason I wound up with no college degree – no one but me was paying for it.

And another thing – what are the odds yesterday’s excitement gave POTATUS a great opportunity to slip this generoous handout through?

…Republicans have fought Biden’s plans on student debt, but Wednesday’s announcement comes as they’re consumed by infighting on Capitol Hill. Hard-right Republicans forced a vote that ousted Rep. Kevin McCarthy, R-Calif., as House speaker, leaving the chamber in chaos.

You have to wonder what other nefarious dungballs the snek in the White House plans to quietly dump while everyone’s watching the GOP circus.

Oh, well DONE, guys.

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Ed Morrissey 12:40 PM | November 21, 2024
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