$300 billion, eh? Try $1 trillion, and climbing
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The devil’s in the details, which the acting president and his media scribes are hiding.
You can learn about those details at the link but in the meantime, who are these people we’re about to plunge deeper into debt for? Not the kind that the law was designed to help, that’s certain
President Joe Biden justified his authority to forgive up to $20,000 in student loans per borrower by citing a nearly 20-year-old law for veterans, active-duty service members fighting in Afghanistan and Iraq, and victims of terrorism.
What Biden didn't mention in his public remarks is the law he's using to do so: the largely unknown Higher Education Relief Opportunities for Students (HEROES) Act of 2003. That bill was never meant to be a bailout for typical college grads, but a technical fix to benefits for active-duty troops.
The HEROES Act was signed into law by then-president George W. Bush as part of the federal government's effort to provide financial security to soldiers fighting overseas. The bill grants the secretary of education the ability to "waive or modify any statutory or regulatory provision applicable to the student financial assistance programs … in connection with a war or other military operation or national emergency to provide the waivers or modifications authorized."
"By bringing a little more peace of mind to student soldiers, we are doing our part to protect them as they protect us," said then-representative John Kline (R., Minn), the author of the bill, at the time.
Referring to those citizens who have foregone college, or sacrificed to pay their debts, Powerline’s Scott Johnson asserts that “making honest citizens feel like chumps should be beyond the bounds.” He’s right.
