Trump rips student loan forgiveness: ‘It’s coming right out of the pocket of the working-class Americans’

2JD3X4P Former U.S. President Donald Trump at a Republican-led event titled "Faith and Freedom Road to Majority" in Nashville, Tennessee, U.S., June 17, 2022. REUTERS/Harrison McClary

Photo: Alamy

President Trump ripped the Biden administration’s recent move to implement a nationwide student loan forgiveness program, calling it “another election enhancing money grab.”

In a new statement released through his Save America PAC, Trump wrote, “Joe Biden and the Radical Left Democrats have just orchestrated another election enhancing money grab, this time to the tune of $300,000,000,000 – and just like I predicted, it’s coming right out of the pocket of the working-class Americans who are struggling the most!”

On Wednesday, Joe Biden announced that he would implement a student debt forgiveness program. Per The Post Millennial, the federal bailout will allow for $10,000 in student loan forgiveness and $20,000 for those who received Pell Grants.

The White House’s claims about Biden’s student debt relief plan.

The American taxpayer, however, will be footing the bill for this government relief plan. “Crippling inflation, unaffordable energy prices, and WAR – all things that should never have happened,” President Trump continued. “But if that wasn’t enough, now Americans are bailing out College Administrators who fleeced students, and those who opted for Degrees there was no way they could afford.”

According to The Post Millennial, each American taxpayer will end up paying close to $2,085.59 each to cover Biden’s student loan forgiveness plan, per the director of federal policy at the National Taxpayers Union, Andrew Lautz.

Some critics of Biden’s tax relief strategy have pointed out that the plan is not “student forgiveness” as much as it is “student debt transfer” to the American taxpayers. Christina Pushaw, Florida Gov. Ron DeSantis’s rapid response director, remarked on Twitter, “I’m not angry about anyone getting a $10k handout for student debt. I’m angry about WHO’S PAYING for it. Massive transfer of wealth from working class to credentialed professionals in top 3-5% of income. Why not make universities pay from their Diversity Equity Inclusion budgets?”

Further, the official White House Twitter account claimed this week that the Biden administration’s student debt relief plan would further “advance racial equity” by narrowing “the racial wealth gap.” They also asserted that “no individual or household in the top 5% of incomes will benefit” from this tax plan.

“America is a nation in decline, and the cliff into oblivion is within sight,” the 45th president concluded. “Stop voting for Democrats! MAKE AMERICA GREAT AGAIN!”

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