Luther Ray Abel of National Review Online assesses President Biden’s recent actions on college student loans.
Joe Biden announced on Wednesday evening the continuation of his administration’s efforts to bribe Millennials with taxpayer money, this time to the tune of $1.2 billion. …
… This repayment scheme — or, rather, repayment-avoidance scheme — is part of the Biden admin’s SAVE plan. Before the modification, borrowers would have to make payments for somewhere between 20 and 25 years before qualifying for absolution. Now, the requirement is ten years, and those under a certain threshold will have to “pay” $0 per month to qualify. As Politico notes: “About 4.3 million of those borrowers have income that is low enough to quality [sic] them for a $0 monthly payment.”
Suffice it to say, this program is despicable self-service from the executive branch as Biden looks to shore up support from younger voters who despise him as much for his ostensible support for Israel as they do for his earlier failed attempts to pay off their loans from the pockets of whoever is standing closest to him at the moment. …
… [R]epaying the loans of college-goers would “pit American against American, increase partisan resentments, further damage our already debilitated lawmaking process, and haunt the reputation and fortune of the arthritic Democratic Party for many years to come.” But Biden doesn’t care about that, being one foot out the door while trying to keep the other one in the Oval Office. A president in as weak a position as Biden’s will bend what he feels he must to deliver on campaign promises, even if it damages the social and constitutional fabric.
What can be done about it is an open question. A House attempt to stymie the SAVE plan failed in the Senate last year, and taxpayers do not appear to have standing to appear before the Supreme Court about the matter.
