Democrats Are Plotting a Brazen $147B Student-Loan Debt “October Surprise”
Michael Brickman
August 14, 2024
The Biden-Harris team has signaled that it’s gearing up for an “October Surprise” on student loan cancellation — although it might come even sooner, sneaking in before early voting starts.
Once again, they are trying to shift hundreds of billions of dollars in loans onto the 90% of Americans who don’t owe student debt, to gain favor with voters who do.
And this time they’ve added a brazen direct-marketing campaign to appeal to those indebted voters, just ahead of the presidential election.
Their new loan-forgiveness effort is particularly devious because it is designed with the administration’s previous court losses in mind.
The Department of Education has asked borrowers who may wish to opt out of the imminent forgiveness plan — for tax liability or other reasons — to notify them by Aug. 30.
That means the administration’s final plan — potentially canceling at least $147 billion in loans — could be issued as soon as the following day.
However, the department has kept that plan under wraps, making it difficult for borrowers to make an informed choice — and, crucially, making it harder for states to sue as they have previously.
The Biden-Harris team knows that its actions are illegal, and courts will likely rule against them.
