Biden Defies Supreme Court Again, Cancels $1.2 Billion In Student Debt From 153,000 Borrowers

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by Tyler Durden
Thursday, Feb 22, 2024 - 03:40 AM

Demonstrating yet again that nobody is quite about the law - and the constitutions - like the Biden crime family...

... months after the Supreme Court voted that BIden's student loan relief is illegal, the Biden administration said on Wednesday that it would forgive another $1.2 billion in student debt for nearly 153,000 borrowers enrolled its new repayment program, called the Saving on a Valuable Education, or SAVE, plan. According to CNBC, the relief will go to borrowers who have been in repayment for a decade or longer, and originally took out $12,000 or less.

Borrowers usually get debt forgiveness under income-driven repayment plans, including SAVE, after 20 or 25 years of payments. But under the SAVE plan, those who borrowed less can get their debt canceled after just a decade.

In January, the Biden administration said it would soon start to forgive the debt of these borrowers who had signed up for its new plan.

“With today’s announcement, we are once again sending a clear message to borrowers who had low balances: if you’ve been paying for a decade, you’ve done your part, and you deserve relief,” U.S. Secretary of Education Miguel Cardona said in a statement.

Eligible borrowers will begin receiving emails from President Joe Biden on Wednesday and do not need to take any further action to receive the relief, the U.S. Department of Education said.

After the Supreme Court blocked Biden’s sweeping student loan forgiveness plan last June, his administration has found ways to defy the highest legal entity that has not yet been corrupted by Soros' billions and has explored all of its remaining authority to leave people with less education debt, even if it meant violating the law.

The latest round pushes the total relief approved by the Biden administration to nearly $138 billion, benefiting 3.9 million borrowers. That number could grow as more people become eligible for forgiveness under the SAVE program, which has 6.9 million people enrolled. Administration officials have declined to estimate how many borrowers will eventually see loans forgiven under the program.

Yet even with the latest abuse of the Supreme Court ruling, Biden's efforts to buy votes fall short of the president’s proposal for more sweeping student loan cancellation — as much as $20,000 in relief per borrower - that was struck down last year by the US Supreme Court. That forgiveness plan was estimated to cost $400 billion.