Joe Biden’s Student Loan Plan Will Cost Taxpayers – One America News Network
One AmericaMAR 28 2023
The Spin
Republican narrative
This latest report bolsters the concerns surrounding Biden's student loan forgiveness program, which is going to crush the economy and intensify inflationary pressure. Biden isn't canceling student debt, he's simply shifting it onto the shoulders of American taxpayers. Legislators at the federal and state level must do what they can to block this policy decision.
Democratic narrative
This report is an estimate and should be taken with a grain of salt. Even the CBO admits its analysis is “highly uncertain” because it doesn’t take into account the number of people who will repay their debt after some of their loans are forgiven, and it also assumes that 65% of borrowers who qualified for a Pell Grant received one. Student debt relief is still vital to strengthening the middle class.