Donald Trump blasted Joe Biden’s student loan forgiveness bill in a blistering statement.
Trump pointed out that the money was “coming right out of the pocket of the working-class Americans who are struggling the most!”
He also added that “Americans are bailing out College Administrators who fleeced students.”
“Joe Biden and the Radical Left Democrats have just orchestrated another election enhancing money grab, this time to the tune of $300,000,000,000–and just like I predicted, it’s coming right out of the pocket of the working-class Americans who are struggling the most! Crippling inflation, unaffordable energy prices. and WAR-all things that should never have happened. But if that wasn’t enough, now Americans are bailing out College Administrators who fleeced students, and those who opted for degrees there was no way they could afford. America is a nation in decline, and the cliff into oblivion is within sight. Stop voting for Democrats! MAKE AMERICA GREAT AGAIN!”
Joe Biden’s plan would cost around $500 billion according to an analysis.
President Joe Biden’s plan to forgive thousands of dollars in student debt for millions of Americans and adjust repayment for others will cost roughly $500 billion, according to a nonprofit that analyzes such plans.
Biden said he’ll cancel up to $10,000 of student debt owed to the federal government for households earning less than $250,000 per year and people earning less than $125,000 per year. That will cost the most: from $330 billion to $390 billion, according to the Committee for a Responsible Federal Budget.
Approximately 43 million people are eligible for the relief, with 20 million being poised to have their entire debt wiped out, according to Biden administration officials.