President Joe Biden plans to buy another round of votes Wednesday by reallocating billions in student loan debt -- debt voluntarily taken out by wealthy degree holders.
"President Joe Biden on Wednesday will announce $1.2 billion of student debt relief for nearly 153,000 borrowers — and he’s sending emails to make sure they know whom to thank for it," POLITICO reports. "The administration’s latest tranche of loan forgiveness covers borrowers who are enrolled in Biden’s new loan repayment program, initially borrowed $12,000 or less and have been repaying their debt for at least 10 years."
The decision comes as Biden desperately tries to hold onto his Democratic coalition while his approval numbers continue to plummet across the board.Starting today, the first round of folks who are enrolled in our SAVE student loan repayment plan who have paid their loans for 10 years and borrowed $12,000 or less will have their debt cancelled.
— President Biden (@POTUS) February 21, 2024
That’s 150,000 Americans and counting.
And we’re pushing to relieve more.