Biden Dubious Student Loan Forgiveness

A sad day for the majority of Americans, By that I mean those that never rook out Federal guaranteed Student Loans or those that paid theirs off. President Biden announced today that $10K for individuals making under $125K per year would be forgiven. Of course, for a family, that doubles. This means those in the upper 60% of earners will benefit from this proclamation. He’s also using The Heroes Act, passed after 9/11 as authority that states in an emergency the president may perform this action but this asks the question, “What emergency”? Well, how about the pandemic? But wait! Didn’t the administration recently say that the emergency of the pandemic was over in order to skirt Title 42 rules for illegals crossing the border? This is dubious at best and like some of his other “Executive Orders” that cost taxpayers will be struck down by a court. BTW, you have yo apply for this forgiveness, it’s not automatic, and of course, right now, that’s all that is happening. Stay tuned. Also, before you accept any gratis from this government make sure you read the small print.

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