With his poll numbers in the tank, Joe Biden is making a desperate play to win back liberal supporters disillusioned with his presidency.
In the biggest loan discharge in the history of the Education Department, Biden is wiping away $6 billion in student loan debt for students who attended Corinthian Colleges, the Washington Examiner reported.
Biden forgiving $6 billion in student debt
Under Biden’s plan, over half a million people who attended Corinthian’s schools will have their debt fully forgiven. Corinthian shuttered in 2015 after facing accusations of deceiving prospective students about career opportunities.
The school was investigated by none other than former California attorney general Kamala Harris. Harris gave remarks Thursday on Biden’s forgiveness plan, saying “justice” was being done for those hurt by Corinthian’s “predatory” practices.
“As of today, every student deceived, defrauded, and driven into debt by Corinthian Colleges can rest assured that the Biden-Harris Administration has their back and will discharge their federal student loans,” he said.
Biden is also reportedly planning to move ahead with erasing $10,000 in debt for all borrowers earning less than $150,000 a year as he comes under pressure from the left to follow through on a campaign pledge to forgive student loan debt.
Biden gets desperate
Most polls show that Biden and his Democratic allies in Congress are heading for a brutal rebuke in the upcoming midterm elections, as high inflation continues to eat away at the savings of middle-class Americans.
But Democrat officials told the Washington Examiner that forgiving student debt could help Biden limit widely expected losses by winning Black voters.
Biden’s plans to unilaterally absolve student loan debt sure look like a political gambit, one that is likely illegal and, in the eyes of many, unfair to those who paid off their loans.
What’s more, if Biden’s rationale for erasing debt is that Corinthian scammed students, many subpar colleges could likewise be charged with giving students false hopes of success, former education secretary Bill Bennett noted in a Fox News interview.
“What about the liberal arts college, the second, third, fourth–rate liberal arts college, that promises everything in its catalog and delivers nothing, and you pay $70,000 a year?” asked Bennett. “Is the government going to forgive that?”