Biden is trying to buy votes and he might fail tremendously.
A recent legal challenge has resurrected a persistent obstacle for President Joe Biden – fulfilling his promise from the 2020 campaign trail to alleviate the burden of student loan debt.
Back in 2022, Biden announced a plan to “cancel” $10,000 of federal student debt per borrower, only to have it struck down by the Supreme Court as unlawful. Despite this setback, he has since unveiled additional measures, including $144 billion in student debt relief and the implementation of a program aimed at reducing future loan payments. However, a fresh lawsuit filed by a coalition of Republican-led states, spearheaded by Kansas and joined by 10 others, threatens to derail these efforts.
The lawsuit contends that Biden’s latest actions are a rehash of his previous illegal maneuver, echoing the sentiments expressed by the Supreme Court’s ruling. Missouri has also pledged to file a similar suit in the coming week, setting the stage for a potential political blow to Biden’s reelection prospects in 2024, particularly among younger voters.
Undeterred by congressional resistance, Biden has pursued aggressive measures to address student debt. His initial plan aimed to eliminate a minimum of $400 billion in debt, and following its rejection, he has pursued alternative avenues for debt cancellation, alongside initiatives like the Saving on a Valuable Education (SAVE) Plan, designed to significantly reduce loan repayments.
Critics, predominantly Republicans, argue that Biden’s actions constitute an unlawful redistribution of wealth from non-college-educated individuals to college graduates. They contend that such policies impose an unfair burden on taxpayers.
However, proponents of student debt relief argue that alleviating this financial burden enables younger generations to focus on broader life goals, such as homeownership and starting families. Moreover, they highlight the widespread public support for government intervention to address the issue.
Despite the mounting legal challenges and criticism, Biden remains steadfast in his commitment to addressing student loan debt. The White House recently organized a “Day of Action” to promote its student loan programs, signaling the administration’s determination to confront the issue head-on.
Yet, with the looming threat of legal injunctions, Biden’s strategy carries inherent risks. The outcome of the lawsuits could leave many voters disillusioned and potentially impact Biden’s reelection prospects. Nonetheless, Democratic strategists like Michael Stratton advocate for Biden to stand by his commitment, framing the opposition as a partisan obstruction and emphasizing his dedication to fulfilling his promises.