Joe Biden erases another $5B in student loan debt in defiance of Supreme Court

 January 21, 2024

President Joe Biden announced on Friday that he would be forgiving another $5 billion in debt for some 73,600 student loan borrowers in a move that directly defies a Supreme Court decision striking down a similar effort.

Biden issued a statement saying, "From Day One of my Administration, I vowed to improve the student loan system so that a higher education provides Americans with opportunity and prosperity — not unmanageable burdens of student loan debt. I won’t back down from using every tool at our disposal to get student loan borrowers the relief they need to reach their dreams."

Of course, this move does nothing to solve the real issue, which is predatory lending practices that have trapped students in the first place and massively inflated the cost of education for all.

At face value, Biden has used student loan debt forgiveness as a way to buy votes ahead of the 2024 presidential election, which promises to be a tight one.

It really is a no-brainer for those who have debt. Vote for Biden and give him another four years in which he will issue blanket forgiveness of debts.

Unfortunately, this will do little to solve the greater issue and is just another ploy that has questionable legality. Biden is defying the Supreme Court with his executive actions forgiving debt, and if he isn't stopped, it could undermine the legitimacy and power of the nation's highest court.