Biden’s proposed student debt relief plan could help more than 30 million
Washington PostApr 08
Biden Announces Further Student Debt Relief Plans
The Facts
Pres. Joe Biden announced a new student debt forgiveness plan on Monday during a campaign visit to Wisconsin, building on his previous policies to cancel the debt of millions of borrowers.
He said the new relief, which comes after the Supreme Court struck down his initial plan to cancel up to $20K for roughly 43M eligible debtors, could be "life-changing" for "hard-working Americans."
The Spin
Democratic narrative
Joe Biden is committed to helping millions of Americans crushed by student loan debt and will not sit on his hands while people struggle. Though the right-wing Supreme Court struck down Biden's initial proposal to provide sweeping relief, it didn't rule that Biden was prohibited from passing smaller relief packages. The GOP has no interest in helping millions of young people who are simply looking to get ahead by receiving an education. Still, Biden and the Democrats will do everything possible to provide desperately needed aid to those Americans.
Republican narrative
Last year, the Supreme Court rightfully struck down Biden's unconstitutional proposal to cancel billions of dollars of student debt, yet the president kept trying to circumvent the ruling. Everyone knows that debt doesn't simply disappear, meaning that Biden is asking the American taxpayer to foot a nearly half-trillion-dollar bill to pay for other people's college degrees. From ignoring the Constitution to stealing from taxpayers, Biden and the Democrats are showing a clear disregard for American citizens.
Nerd narrative
There's a 50% chance that the US student loan debt bubble will "pop" by 2038, according to the Metaculus prediction community.