“Biden’s Student Loan Forgiveness: Making For-Profit Colleges Great Again, One Debt at a Time”
Hold onto your hats, folks, because President Joe “Debt Slayer” Biden is at it again! In a move that’s sure to make the student loan industry quake in its expensive loafers, the Biden administration announced on Friday that they’ll be wiping out a whopping 74 billion in student debt for nearly 300,000 lucky borrowers. That’s right, 74 billion! It’s like Oprah Winfrey walked into the room and started shouting, “You get debt forgiveness, and you get debt forgiveness, everybody gets debt forgiveness!”
Now, before you start picturing Biden riding in on a white horse, brandishing a sword and a calculator, let’s break it down. These borrowers aren’t just your run-of-the-mill college grads drowning in debt. Oh no, these are the folks who got hoodwinked by for-profit colleges promising the moon and delivering a moldy piece of cheese. They were sold a bill of goods, slapped with sky-high interest rates, and left holding a useless degree in underwater basket weaving. But fear not, dear readers, for Biden is here to save the day!
With this latest round of debt forgiveness, Biden’s grand total of student loans wiped clean now stands at a jaw-dropping 83 billion. That’s enough money to buy a small country or at least a really fancy yacht. And who’s benefiting from all this generosity? Over half a million Americans who can finally breathe a sigh of relief knowing that they won’t be shackled to their student loans for the rest of eternity.
But of course, not everyone is thrilled about Biden’s student loan forgiveness extravaganza. Some naysayers are grumbling that this isn’t the most effective solution to the student loan crisis. They’re probably the same people who complain about free puppies and rainbows. But hey, who cares what they think? Biden is on a mission to right the wrongs of the past and give struggling borrowers a fighting chance at financial freedom.
As the debate rages on, one thing is crystal clear: student loan debt is no joke. It’s a burden that weighs heavily on millions of Americans, stifling their dreams and limiting their potential. So, whether you’re cheering on Biden’s debt-slaying crusade or shaking your fist at the sky, one thing is for sure – the student loan saga is far from over. And as long as there are borrowers in need, Biden will be there, armed with his trusty pen and a big ol’ eraser, ready to make things right.
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Source: CNN
URL: https://www.cnn.com/2024/04/12/politics/biden-student-loan-forgiveness/index.html