The idiots in charge of America made yet another socialist move saying that they will cancel $10,000 of federal student loan debt for certain borrowers making less than $125,000 per year, and up to $20,000 for Pell Grant recipients, while extending the pause on federal student loan payments through the end of the year.
Marvelous, guess who gets to pay for all of that? That’s right, all of us hard working saps, that’s who!
“In keeping with my campaign promise, my Administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023,” Biden tweeted.
Biden gave remarks on the plan Wednesday afternoon.
The Nation’s federal student loan dept now sits at more than $1.6 trillion after it’s ballooned for years. More than 43 million Americans have federal student debt, and college is the biggest scam in American history.
Biden said his administration will forgive student loan debt up to $20,000 for borrowers who attended college on Pell Grants and $10,000 for borrowers who did not receive Pell Grants. He said the forgiveness “only applies to those earning less than $125,000.”
Biden also said that borrowers with undergraduate student loans are able to “cap repayment at 5% of your monthly income.”
“Earning a college degree or certificate should give every person in America a leg up in securing a bright future. But for too many people, student loan debt has hindered their ability to achieve their dreams — including buying a home, starting a business, or providing for their family,” Education Secretary Miguel Cardona said in a statement Wednesday. “Getting an education should set us free; not strap us down! That’s why, since Day One, the Biden-Harris administration has worked to fix broken federal student aid programs and deliver unprecedented relief to borrowers.”
The more you read, the more you realize how stupid these people really are. Thanks to our friends at Fox News for contributing to this atrocity.
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