Biden Plans To Cancel $10,000 In Student Debt Per Borrower Ahead Of Midterms, by Tyler Durden

Talk about buying votes. From Tyler Durden at zerohedge.com:

As soon as this weekend, President Biden could announce a plan to cancel $10k in student debt per borrower, according to WaPo, citing three people with knowledge of the matter.

Biden could make the announcement at the University of Delaware’s commencement ceremony on Saturday. The plan would apply to Americans who earned less than $150k in the previous year or less than 300k for married couples filing jointly.

On April 6, the White House announced it would extend the pause of federal student loan repayments through August 31. It wasn’t clear if the administration would extend the moratorium beyond this.

The decision to wipe out $10k of student debt per borrow who meets requirements comes as President Biden’s approval ratings collapse. 

Notice how the number of stories in the news of “student debt loan forgiveness” is soaring ahead of the midterms, but Biden’s polling numbers remain cratered.

“No decisions have been made yet,” Vedant Petal, a White House spokesman, said Thursday.

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One response to “Biden Plans To Cancel $10,000 In Student Debt Per Borrower Ahead Of Midterms, by Tyler Durden

  1. A bit off topic, but again we are presented with binary arguments regarding student debt, which nicely keeps attention of punitive interest rates. A fair solution would be not to write off debt, but stop adding interest, and if anyone has paid off their original debt, minus interest – then there is an argument for cancelling it. Is this not a more reasonable argument?

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