In an attempt to buy votes ahead of the 2024 election, President Biden doubled down on his pledge to bail out student loan borrowers on Wednesday, despite the U.S. Supreme Court deeming the policy unconstitutional.
“My MAGA Republican friends in the Congress, elected officials, and special interests stepped in and sued us, and the Supreme Court blocked it. But that didn’t stop me,” the president grumbled during a press conference, bragging about his bid to sidestep SCOTUS.
Biden’s plan aims to “cancel” $1.2 billion in student loan debt for 153,000 borrowers “currently enrolled in the Saving on a Valuable Education (SAVE) repayment plan,” according to the White House. These figures come in addition to the 74,000 loans, totaling $5 billion, Biden “forgave” last month. Of course, when Biden and his administration say they’re “canceling” or “forgiving” student loan debt, what they’re actually doing is transferring debt agreed to by individuals who attended university and transferring it to U.S. taxpayers who chose not to pursue a college degree or have already repaid their loans.
The White House’s attempt to use the SAVE plan to bail out student loan borrowers comes nearly a year after SCOTUS declared the administration’s prior debt cancelation policy unconstitutional. The Education Department previously tried to rationalize its absurd bailout program by citing the HEROES Act, which permits the executive to waive loans when “necessary in connection with a war or other military operation or national emergency.”
While intended for U.S. military service members in the wake
