October 05, 2023


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President Biden won’t take no for an answer when it comes to his multi-billion-dollar student loan debt forgiveness schemes. 

Just four months after his first student debt forgiveness scheme was found unconstitutional by the U.S. Supreme Court, yesterday, the President announced he would cancel an additional $9 billion in student debt for 125,000 borrowers. 

The President is determined to do whatever it takes to put the education of the upper class on the tab of middle- and working-class American families.


1. “Wednesday’s announcement of $9 billion in student-debt cancellation for 125,000 borrowers, the latest in a string of sizable discharges, helps just a small slice of more than 40 million who hold debt.”

2. "'This is part of a pattern of the Biden administration illegally acting without congressional approval, costing the American people hundreds of billions of dollars,’ said Sen. Bill Cassidy of Louisiana, the top Republican on the Senate Health and Education committee."

3. "The piecemeal approach to debt cancellation has added up. Including Wednesday’s canceled loans, the administration has now wiped out $127 billion in student debt, nearly one-third of the projected cost of the failed mass-cancellation plan.


1. August 24, 2022 — Biden Administration announces a $300+ billion student loan forgiveness plan that forces the 87 percent of taxpayers without student loans to pay for the 13 percent of taxpayers who do.

2. June 30, 2023 — Supreme Court finds this student loan debt forgiveness plan unconstitutional.

3. June 30, 2023 — Biden responds to the Supreme Court’s decision by announcing three new student loan schemes, including a finalized Income Driven Repayment (IDR) rule, estimated by the non-partisan Penn Wharton Budget Model to cost $475 billion over the next decade.

4. October 4, 2023 — Biden announces an additional $9 billion in student debt forgiveness.