Conservatives rail against Biden’s student loan ‘debt transfer’

Graduation mortar board cap on one hundred dollar bills concept for the cost of a college and university education

Conservatives piled on the Biden administration’s latest student loan “debt transfer,” pointing out the issues surrounding mass debt forgiveness. 

The New York Post reported that a $7.7 billion plan to “cancel” student debt for 160,000 American borrowers was announced Wednesday morning. 

This comes after the Biden Administration claimed that it has “canceled” student loans for almost 5 million Americans, resulting in $167 billion being wiped from individual debt, per AP News.

This enraged those who believe in personal responsibility and are concerned with the ever-growing national debt that is now over $34.5 trillion

The Heritage Foundation posted to X noting, “87% of American adults don’t have student debt.”

“Biden’s illegal student loan ‘forgiveness’ is a debt transfer scheme that’s already cost every American household over $3,000,” they added. 

Students for Trump Chair Ryan Fournier wrote, “There isn’t a plan to “eliminate” student loan debt. Only a plan to transfer the debt from those who currently owe it, to the rest of us.”

Fox News correspondent Lucas Tomlinson noted that the total amount the Biden Administration is “forgiving” with is “about the size of the U.S. Army’s budget.”

Podcast host Michelle Tafoya joked, “My parents skimped and scraped to put me (and my 3 siblings) through college.  I guess we are all suckers.”

Political commentator Guy Benson called it “illegal” and noted that this is “punishing the 80%+ of Americans who didn’t go to college / didn’t accrue debt / paid off their loans.”

Founder of Parents Defending Education, Nicki Neily, posted a clip of former House Speaker Nancy Pelosi, D-Calif., declaring that the president does not have the power to impose “debt forgiveness.”

Neily called the Biden administration’s latest plan “a $167 billion vote-buying scheme.”

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