On Thursday, the Biden administration released additional data and according to Politico [1] there have been more than 25 million Americans so far who “signed up to have their student debt canceled before the program was blocked by the courts.”
25,031,094 applications were sent into President Disaster’s people and the department approved 16,485,454 of those applications. With up to $20,000 a pop to be handed out, that comes to $329,709,080,000 of OUR taxpayer dollars waiting in the wings.
That’s a lot of zeroes, right?
It’s $329 billion folks.
But there are even more people who are actually “approved” because those numbers don’t include the students who were deemed “automatically eligible for relief” because the Education Dept. had their income information already on file.
So we get to pay for the choices of other people who wanted to go to college when we couldn’t afford to do so ourselves and got a job instead. Or we went to college for years and years and years and payed for our own education as we could afford it. Or we went to trade school instead.
And it’s not just the “poor” folks we are paying for. We’re going to pay for the education of engineers and doctors and people who will be making a lot more money than we’ll ever see.
The most applications came from the freeloaders in California (2.2 million) which should not be surprising to anyone.
So while many of us are struggling to buy a dozen eggs or a gallon of gas, billions of OUR dollars hang in the balance while we wait for the Supreme Court to decide [2] if Biden’s student debt relief program is constitutional (it isn’t). They will be hearing arguments in February.
Good luck to us.