Republicans tear into the ‘stupidity’ of Biden considering cancelling all student loan debt because it will raise taxes by $13,000 per person and make inflation worse – and 65% of Americans don’t have a college degree
- Republican senators are introducing a bill to stop the president from canceling student loan debt after he indicated he might do so in the future
- Some 43 million Americans hold a total of $1.6 trillion in federal student debt
- Biden said he was thinking about forgiving student debt but didn’t give specifics
- Has raised speculation he’s now planning to cancel far more than the $10,000-per-student he proposed while running for the presidency
- ‘This bailout will make inflation worse and continue to drive up the cost of college,’ a tax expert told DailyMail.com of the potential plan
- Progressive Democrats have called for all student debt to be forgiven
- U.S. Rep. Tony Cardenas said the president suggested a plan to canceling some debt for the 43 million students holding $1.6 trillion in loans on Monday
- The White House has yet to provide the logistics on how student loan forgiveness would work with a deadline set for August 31
