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Biden Considering Student Loan Forgiveness

Will this presidential election be the most important in American history?

President Biden is considering a plan to forgive a meaningful amount of student loans.

CBS News reported, “The move could affect more than 43 million borrowers who hold more than $1.6 trillion in federal student loan debt, the second-largest debt held by Americans, behind mortgages.”

As CBS News noted, Biden’s current idea is a reversal from what he was saying during the 2020 presidential campaign where he wanted a more limited type of loan forgiveness.

According to Democrat Representative Tony Cardenas, Biden toldthe Congressional Hispanic Caucus he is thinking about “…wiping out a “significant” amount of the $1.7 trillion in student loan debt….”

Last Sunday, Senator Elizabeth Warren (D-MA) pushed student loan forgiveness on CBS News’s “Face the Nation.”

Senator Ted Cruz (R-TX) criticized the idea of forgiving loans saying it will result in more inflation.

The Biden plan, if executed, would be done via an executive action and not through legislation.

Forgiving student loans is a bad move that will only increase our nation’s debt but will also send the wrong message to students and the general public.

With Biden’s poor public opinion polls, student loan forgiveness is just an attempt to buy votes.

Tom Borelli

Dr. Tom Borelli is a Newsmax TV contributor and radio commentator addressing political issues from a conservative grassroots perspective. As a columnist, he has written for The Washington Times and authored articles for Newsmax Magazine, Newsmax Insider and previously was a co-host with his wife Deneen Borelli on the SiriusXM Patriot channel. Dr. Borelli appeared on numerous television programs, including the highly ranked Fox News Channel’s “The O’Reilly Factor,” “Hannity,” “The Kelly File," and "America’s News Headquarters." He has also appeared on Fox Business Network’s “Making Money with Charles Payne” and “After the Bell” as well as TheBlaze TV’s "The Glenn Beck Program" and "Dana!" Prior to working for public policy organizations, Dr. Borelli was a managing partner with the investment advisory firm of Action Fund Management, LLC and a portfolio manager for the Free Enterprise Action Fund (FEAF) where he used shareholder activism to challenge corporations that sought to profit from the growth of government. During his 25 years with the Altria Group, Inc., he built a foundation in public policy and issues management, drawing from diverse experiences ranging from basic research to corporate affairs. Dr. Borelli served as science fellow for the U.S. House of Representatives' Committee on Science, Space, and Technology during the 100th Congress. Dr. Borelli has also published scientific papers on interferon and human leukemia.

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