The total cost of Biden's student loan handouts is over $153B

https://www.foxbusiness.com/politics/food-costs-soar-biden-hands-massive-
7-4b-student-loan-handout

Months after the United States Supreme Court ruled President Biden�s
sweeping student loan handout was illegal, he is forging ahead with
another partial loan forgiveness.

"Today, my Administration is canceling student debt for 277,000 more
people, bringing the total number of Americans who have been approved for
debt relief so far under my Administration to 4.3 million borrowers
through various actions," the White House said on Friday.

It comes at a whopping price tag of $7.4 billion for taxpayers, who are
already dealing with crushing inflation.

"I will never stop working to cancel student debt � no matter how many
times Republican elected officials try to stop us," Biden said.

Friday's announcement comes as shoppers across the United States are
seeing their food costs soaring.

Since Biden took office in Jan. 2021, the price of eggs is up 104% � from
just $1.47 per dozen to a whopping $3.00, on average.

Other items have seen colossal increases, including bread, which is up
29%; the price of chicken per pound is up 25%; flour per pound is up 24%;
and, a stick of butter per pound is up 23% since 2021.

In Friday's statement, President Biden reminded that he intends to
continue his election-year forgiveness, effectively lifting financial
burdens for millions of borrowers just months ahead of seeking their vote
in his 2020 rematch with presumptive Republican nominee, former President
Trump.

"And, earlier this week, I laid out my Administration�s new plans that
would cancel student debt for more than 30 million Americans when combined
with everything we�ve done so far," Biden said, per the White House.

He added, "From day one of my Administration, I promised to fight to
ensure higher education is a ticket to the middle class, not a barrier to
opportunity."

The announcement comes amid an effort by Biden to forgive up to $20,000
for all borrowers, regardless of income � prompting concerns from
Republicans.

"The Senate should block Biden�s socialist student debt relief program,"
Sen. Marsha Blackburn, R-Tenn., told Fox News Digital. "Hardworking
Tennesseans should not be paying for wealthy coastal elites to get PhDs in
gender studies. The Supreme Court already struck down Biden�s previous
student loan scam as unconstitutional, but once again, he is attempting to
defy the rule of law."

Republican critics of the plan have accused him of trying to buy votes at
a time when progressive youth are becoming disenchanted with Biden over
his stance on Israel�s war in Gaza.

House GOP Conference Chairwoman Elise Stefanik, R-N.Y., told Fox News
Digital, "Joe Biden is forcing the American people to foot the bill for
his illegal student loan bailout in a desperate attempt to save his
failing campaign."

According to the White House, the 277,000 borrowers are enrolled in the
Biden administration�s new SAVE Plan � which automatically forgives
outstanding balances after a certain number of payments are met or if
borrowers make less than $15 per hour � or were approved for relief under
the Income-Driven Repayment Plans and Public Service Loan Forgiveness
programs.

"Today�s announcement comes on top of the significant progress we�ve made
for students and borrowers over the past three years. That includes:
providing the largest increases to the maximum Pell Grant in over a
decade; fixing Public Service Loan Forgiveness so teachers, nurses, police
officers, and other public service workers get the relief they are
entitled to under the law, and holding colleges accountable for taking
advantage of students and families," the statement continued.

The Supreme Court ruled on June 30, 2023, that the Biden administration
lacked constitutional authority for such student loan handouts.

The total cost of Biden's student loan handouts is over $153,000,000,000.

Fox News' Elizabeth Elkind and Julia Johnson contributed to this report.

--
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President Trump boosted the economy, reduced illegal invasions, appointed
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