Joe Biden turning to student loan forgiveness to buoy his sinking campaign

President Joe Biden's 2024 campaign is in turbulent waters, and he is resorting to student loan debt cancellation in order to boost his campaign.

The Biden administration announced on Friday that some borrowers would have their debts canceled starting in February.

The Biden administration announced the cancellation under the Saving on Valuable Education, which dictates that borrowers who took out less than $12,000 in student loans and have been paying on them for 10 years will have their debt canceled.

Biden said in a statement delivered with the announcement "And, it’s part of our ongoing efforts to act as quickly as possible to give more borrowers breathing room so they can get out from under the burden of student loan debt, move on with their lives and pursue their dreams."

However, House Education Committee Chair Virginia Foxx (R-NC) responded to the announcement by saying, "President Biden is downright desperate to buy votes before the election — so much so that he greenlights the Department of Education to dump even more kerosene on an already raging student debt fire."

Foxx continued by saying, "It would surprise no one if the Department relied on infants playing with abacuses to balance its books — it is a complete and utter disaster."