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Biden’s New Harebrained Scheme for Student Loan Forgiveness

Biden's relentless pursuit of student loan forgiveness isn't about fairness or fiscal responsibility; it's a transparent play for votes.

In the bewildering carousel of Joe Biden’s plans to cancel student loan debt, it feels like taxpayers are being taken for a ride—one where the cost of admission keeps skyrocketing with every spin. Biden’s administration, now on its third iteration of trying to ensure we foot the bill for others’ choices, seems hell-bent on pushing through their agenda, ignoring the Constitution and common sense.

Back in August 2022, Biden kicked things off with a bang, proposing to erase up to $20,000 in student loan debt for borrowers under a certain income threshold. A move that would’ve cost the American taxpayer a staggering $600 billion, roughly translating to an additional $2,000 burden per taxpayer. Thankfully, the Supreme Court stepped in to remind Biden that, contrary to his belief, there’s a line he can’t cross with executive authority.

But did that stop him? Of course not. Biden, with a flick of his administrative magic wand, concocted a new scheme under the guise of an Income-Driven Repayment (IDR) overhaul. Suddenly, paying off a student loan in full was set to become as rare as a bipartisan agreement in Congress. And now, with his third attempt, Biden is pushing forward with yet more categories for loan cancellation, including for those who’ve merely faced “hardship” – a term so vague it could mean just about anything.

This isn’t just a misuse of executive power; it’s a slap in the face to every American who scrimped, saved, and sacrificed to pay off their own loans, or who chose not to go to college to avoid debt in the first place. It’s a policy that does nothing to address the root problem: the skyrocketing cost of higher education fueled by these very handouts.

What’s more, this move doesn’t just “cancel” debt—it shifts it from the borrower to the American taxpayer, including those who never stepped foot in a college classroom. And let’s not forget, this is happening as our national debt balloons and inflation continues to squeeze American families.

Biden’s relentless pursuit of student loan cancellation, through any means necessary, isn’t about fairness or fiscal responsibility; it’s a transparent play for votes, doling out taxpayer dollars in the hopes of securing electoral support. It undermines the value of personal responsibility and the principle that a deal is a deal.

It’s high time we confront the reality that Biden’s student loan forgiveness fiasco is more than just financial folly; it’s a dangerous precedent that chips away at the foundational principles of our republic. As taxpayers, it’s our duty to hold this administration accountable and demand policies that address the cost of higher education without burdening future generations with insurmountable debt.

Robert Chernin

Robert Chernin

Robert B. Chernin has brought his years of political consulting and commentary back to radio. As a longtime entrepreneur, business leader, fundraiser and political confidant, Robert has a unique perspective with insights not heard anyway else. Robert has consulted on federal and statewide campaigns at the gubernatorial, congressional, senatorial, and presidential level. He served in leadership roles in the presidential campaigns of President George W. Bush as well as McCain for President. He led Florida’s Victory 2004’s national Jewish outreach operations as Executive Director. In addition, he served on the President’s Committee of the Republican Jewish Coalition. Robert co-founded and served as president of the Electoral Science Institute, a non-profit organization that utilizes behavioral science to increase voter participation and awareness. Robert can be heard on multiple radio stations and viewed on the “Of the People” podcast where you get your podcasts.