This move has sparked a wave of discontent among American taxpayers and a significant number of former college students whose debts remain intact. They have voiced their frustration over the fact that their hard-earned money will be used to support a seemingly randomly selected group of individuals, absolving them of their financial responsibilities.
According to One America News, the announcement made on Thursday indicated that "over 60,000 public service workers" would benefit from the debt forgiveness. This brings the total number of Americans who have had their debt canceled under the Public Service Loan Forgiveness (PSLF) program to over a million. The PSLF program was designed to forgive student debt after 10 years of public service and 10 years of payments.
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October 20, 2024
In a statement, President Biden said, “Public service workers – teachers, nurses, firefighters, and more – are the bedrocks of our communities and our country. They dedicate their careers to giving back to others, and were given the promise of student debt forgiveness after 10 years of public service and 10 years of payments under the Public Service Loan Forgiveness program. But for too long, the government failed to live up to its commitments, and only 7,000 people had ever received forgiveness under Public Service Loan Forgiveness before Vice President Harris and I took office.”
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Despite the Supreme Court's ruling that college loan debt forgiveness is unconstitutional, Biden has chosen to overlook this decision. He continues to bypass the ruling through existing programs such as the PSLF. “In the wake of the Supreme Court’s decision on our student debt relief plan, we are continuing to pursue an alternative path to deliver student debt relief to as many borrowers as possible as quickly as possible,” Biden previously stated.
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The Biden administration has claimed responsibility for canceling $175 billion in debt for nearly five million Americans. However, it is currently embroiled in a legal battle with several Republican attorneys general over a $147 billion plan to cancel student debt for an additional 27.6 million borrowers.
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Senator Bill Cassidy (R-La.) criticized the administration's move, stating, “The Biden-Harris administration is not ‘forgiving’ debt – they are taking it from those who willingly took it out and transferring it onto those who didn’t go to college or already paid off loans. This scheme is an abuse of power and a shameless bid to buy votes on the eve of an election at taxpayers’ expense.”
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The ongoing debate over student loan forgiveness continues to divide the nation, with many questioning the fairness and constitutionality of the Biden administration's actions. As the legal battle unfolds, the fate of millions of student loan borrowers hangs in the balance.
