Even as the calendar approaches Election Day, the Biden administration is not letting up in its years-long quest to bail out student debt. Days after a federal judge re-halted Biden's most recent student loan forgiveness program, Fox News confirms the administration is set to announce yet another plan. This one will reportedly involve the Public Loan and Forgiveness Program, which applies to non-profit and government workers. The move also comes after the grace period for penalties on unpaid student loans expired at the start of the month.
The Biden-Harris administration continues to charge forward with these bailout plans despite every one of their attempts being blocked by courts so far. Missouri Attorney General Andrew Bailey, who is leading a multi-state challenge to the student debt cancellation, recently told Fox Business the administration's actions amount to a 'constitutional crisis.' "You've got a chief executive in the White House and his assistant, Kamala Harris, who don't care about the law," says Bailey. "They're undermining the rule of law by trying to unconstitutionally redistribute a half-trillion dollars in debt in these student loans."
The main argument by Bailey and opponents of the bailout is the president does not have the authority to unilaterally cancel federal debt without Congressional approval. Beyond the legality of the programs, budget watchdogs have estimated the Biden-Harris bailouts could cost taxpayers as much as $1.4 trillion.
Bailey vows to continue the legal fight, arguing the administration is brazenly defying the law. "The Supreme Court explicitly said that you are not allowed to do this without some act of Congress...Congress has passed no such bill," he tells Fox Business. "And yet, the Biden-Harris administration rolled out Plan B, and now...they've got Plan C in the works!"
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