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White House Pledges Taxpayers Will Bail Out 10 Million Students' Loan Debts
Joe Biden will announce Monday that student debt held by ten million Americans will transfer to taxpayers, White House officials told reporters...
The plan to convey student loan debt to taxpayers is widely seen as a political move to gain electoral traction among young voters, who largely do not approve of Biden’s leadership.
Taxpayers can expect to absorb about $5,000 for each of the ten million students, according to the plan Biden is set to tout in Wisconsin. Overall, Biden intends to cut the amount that 23 million students owe on their loans, placing the burden on taxpayers to shoulder the burden of the entire loan amount for more than four million Americans.
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