Senator Calls Out Biden On Student Debt Cancellation

(USNewsMag.com) – Republican Sen. Bill Cassidy of Louisiana claims that President Joe Biden’s plan to cancel over 813,000 individual student loans is nothing more than a plan to gain political support from voters for his reelection campaign.

Cassidy posted on Twitter last week on Tuesday that he believes “Biden’s ploy to force taxpayers” who never went to college to pay “hundreds of billions” to pay off “someone else’s student debt” is nothing more than “a plot to gain political support” for his 2024 campaign.

Since taking office, Biden and his administration have forgiven around $127 billion in student loan debt, providing financial relief for roughly 3.5 million borrowers. Those who benefit from the forgiveness receive an email from Biden congratulating them and informing the borrower that their “student loan has been forgiven because of the actions” taken by the Biden administration. The president’s initial plan was more extensive and called for up to $430 billion in cancellations, but was ultimately struck down by the Supreme Court in June.

The timing of the forgiveness plans coinciding with the approaching 2024 election raises concerns by Cassidy and others that it’s all politically motivated to harness more votes.

A spokesperson for the White House commented on these concerns, defending the initiative and the president. The spokesperson said that Biden “is committed to fighting for hardworking” families and assuring that they get “a little more breathing room” to “support themselves.”

Biden described his relief plan as “life-changing” for the beneficiaries “and their families.” He also argues it would be “good” for the “economy as a whole. by freeing millions of Americans” from student loan debt, which he called a “crushing burden.”

These assertions aside, critics of the initiative aren’t buying it and believe it’s unfair for taxpaying Americans who never took on student loans to shoulder the responsibility of paying off the loans of those who did. Contrary to the president’s claims, opponents of Biden’s plan believe it will only further harm the economy rather than improve it.

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