Forgive Us Our… Loans?

October 06, 2023

Plus: House speaker battles, a Jesus-themed Trump courtroom sketch, Eric Adams’ travel plans, and more…

by Liz Wolfe Reason.com

Biden’s revisionist history: This week, President Joe Biden announced he would cancel an additional $9 billion in student loan debt. This consists of “$5.2 billion in additional debt relief for 53,000 borrowers under Public Service Loan Forgiveness programs,” per a White House statement, “$2.8 billion in new debt relief for nearly 51,000 borrowers through fixes to income-driven repayment,” and “$1.2 billion for nearly 22,000 borrowers who have a total or permanent disability.”

In June, the Supreme Court struck down his earlier plan to void $400 billion worth of student debt for some 43 million borrowers: $10,000 in debt (or $20,000 in debt for those who received Pell grants) for individuals making under $125,000 and households making under $250,000.