Biden administration “forgives” another $7.4 billion in student debt for 277,000 borrowers, effectively transferring that debt to U.S. taxpayers
04/19/2024 // Ava Grace // Views

The administration of President Joe Biden has announced another significant debt relief plan that supposedly cancels $7.4 billion of debt for 277,000 student loan holders.

According to a statement released by the White House, the cancellation is part of a broader effort by Biden to address the financial burdens of education, which he highlighted earlier in the month. This initiative is aimed at alleviating the economic pressures faced by millions of Americans and is seen as crucial for securing the support of young voters in the upcoming November re-election. (Related: Biden defies Supreme Court on student debt cancellation, absurdly claims there’s no cost to taxpayers.)

Under Biden, the Department of Education has made it easier for some specific groups of borrowers, like public sector workers, to qualify for taxpayer-funded loan forgiveness.

This new repayment plan creates a shorter pathway to loan forgiveness for low-income borrowers. It is currently being challenged in at least two legal challenges led by Republican-led states.

In total, the Biden administration has authorized the cancellation of $153 billion in student loan debt for nearly 4.3 million people. That’s more than nine percent of all outstanding federal student loan debt.

As the November election approaches, the Biden administration has been eager to show prospective young voters how much student loan debt it has canceled, making new announcements about debt relief roughly once a month and sending emails directly to eligible borrowers. Earlier this week, Biden announced a new group of student debt relief proposals that could go into effect this fall.

Human knowledge is under attack! Governments and powerful corporations are using censorship to wipe out humanity's knowledge base about nutrition, herbs, self-reliance, natural immunity, food production, preparedness and much more. We are preserving human knowledge using AI technology while building the infrastructure of human freedom. Use our decentralized, blockchain-based, uncensorable free speech platform at Explore our free, downloadable generative AI tools at Brighteon.AI. Support our efforts to build the infrastructure of human freedom by shopping at, featuring lab-tested, certified organic, non-GMO foods and nutritional solutions.

Biden’s student loan forgiveness efforts have been sharply criticized by many Republicans, who argue the president is transferring the cost to taxpayers who chose not to go to college or who already paid for it themselves. They also say he is circumventing the Supreme Court, which knocked down Biden’s signature student loan forgiveness program last year.

Republicans sue Biden's attempts to buy votes using taxpayer-funded student loan forgiveness

In the past few weeks, two groups of Republican-led states have sued the Biden administration over the income-driven repayment plan launched last year. Known as SAVE, or Saving on a Valuable Education, the plan offers the most generous terms for low-income borrowers. About $3.6 billion of the student debt relief will be delivered to people enrolled in the SAVE plan.

“Republicans in 18 states want to prevent their own constituents from benefiting from the SAVE plan. They want to end SAVE, make their constituents’ payments go up and keep them under mountains of loan debt with no end in sight,” said White House press secretary Karine Jean-Pierre.

Since SAVE launched last year, nearly eight million borrowers have enrolled and about 360,000 people have seen their remaining debt canceled due to the terms of the new plan.

Since Biden attempted to implement a sweeping student loan forgiveness program in 2022 – a plan that was knocked down by the Supreme Court before it delivered any kind of debt relief for loan holders – the White House has resorted to using the president's executive powers to provide piecemeal loan forgiveness programs.

Biden's sweeping plan back in 2022 would have transferred up to $20,000 of debt from borrowers earning less than $125,000 a year to regular taxpayers. This would have amounted to about $400 billion in transferred debt. The Supreme Court ruled that the administration overstepped its authority when it tried to do this.

Watch this report discussing how Biden's student loan relief efforts are unfair to taxpayers.

This video is from the NewsClips channel on

More related stories:

DEBT REVOLUTION? Tens of millions of student loan borrowers stage "massive student debt strike."

Biden wants taxpayers to shoulder $6B student loan debt of 78,000 public service workers.

Taxpayer money going down the drain: Biden circumvents SC decision, cancels $72M in student debt.

Biden DID NOT wipe away debt via student loan forgiveness program – he only redistributed it to other taxpayers.

Biden's budget request for fiscal 2025 includes $12 billion for student loan forgiveness.

Sources include:

Take Action:
Support Natural News by linking to this article from your website.
Permalink to this article:
Embed article link:
Reprinting this article:
Non-commercial use is permitted with credit to (including a clickable link).
Please contact us for more information.
Free Email Alerts
Get independent news alerts on natural cures, food lab tests, cannabis medicine, science, robotics, drones, privacy and more.
App Store
Android App
eTrust Pro Certified

This site is part of the Natural News Network © 2022 All Rights Reserved. Privacy | Terms All content posted on this site is commentary or opinion and is protected under Free Speech. Truth Publishing International, LTD. is not responsible for content written by contributing authors. The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. Truth Publishing assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms and those published here. All trademarks, registered trademarks and servicemarks mentioned on this site are the property of their respective owners.

This site uses cookies
Natural News uses cookies to improve your experience on our site. By using this site, you agree to our privacy policy.
Learn More
Get 100% real, uncensored news delivered straight to your inbox
You can unsubscribe at any time. Your email privacy is completely protected.