Will Biden’s student loan forgiveness plan make inflation worse?

One of the early reactions to President Joe Biden’s plan to forgive up to $20,000 in student loan debt has been that it will make inflation worse. ABC News’ Deirdre Bolton fact checks that claim.

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Author: Rafael


50 thoughts on “Will Biden’s student loan forgiveness plan make inflation worse?

  1. Student debt is not about irresponsible young people taking out more loans than they'll be able to pay back.

    It's about a corruption cycle between loan companies, lobbyists, and our lawmakers, designed to make them rich and powerful — AT YOUR EXPENSE.

  2. Major news reporting on Trump obstruction, which won’t affect all Americans, but ignore Biden’s terrible policies which hurt not only Americans, but the entire world.

  3. surprise… surprise…
    This is the Fed printing money & giving it to it's cartel banks who hold all the paper on these worthless gender studies degrees… simple as. So many layers to this scam! Did you pay your loans back??? Ha ha suka! Now go pay some taxes… hate to see those 87,000 new IRS agents digging through your garbage can!

  4. Who pays…..YOU DO!

    Biden’s reckless spending, recession, attack on our energy sector, and surrender of our southern border.

    Inflation and fuel at a 40 year high. Never underestimate Biden’s ability to F things up!!!

  5. Biden is the absolute worst president of my 60 plus years as an American "Independent" voter. Economists have estimated Joes new "give-away" program will pay the American taxpayer $500,000,000,000.00 Is math even being taught in school anymore?

  6. "And I saw the dead, small and great, standing before God, and books were opened. And another book was opened, which is the Book of Life. And the dead were judged according to their works, by the things which were written in the books.
    The sea gave up the dead who were in it, and Death and Hades delivered up the dead who were in them. And they were judged, each one according to his works. 
    Then Death and Hades were cast into the lake of fire. This is the second death. And anyone NOT FOUND written in the Book of Life was cast into the lake of fire." (REVELATION 20:12-15 NKJV)

    Today, while you are still alive and able, may you repent from your sins, believe in your heart and confess with your mouth that JESUS CHRIST is your Lord and Savior, so that through Him, your name will be written in the Book of Life.

    "For God so loved the world that He gave His only begotten Son, that whoever BELIEVES in Him 
    should not perish but have everlasting life.
    For God did not send His Son into the world to condemn the world, but that the world through Him might be saved." (JOHN 3:16-17 NKJV)

    By God's GRACE ✝️, the gift of Salvation and Eternal Life is available to all. You can RECEIVE it. You can REJECT it. May you choose wisely…

  7. It is no longer a story that the world is experiencing a global economic downturn, I’m so happy that I’ve been receiving $45,000 from my $10, 000 investment every 10 days.

  8. Trump forgave so many loans from farmers and private companies mostly white who aren't low income and Republicans never complained.

    This is a great news for all people. Fact is these students are low income or from low income family who deserve a break.

    It's American dream to go to college but not easy for low income people.

    Joe Biden is heiping low income family of all colors..

  9. It's pretty bad when traditional mainstream media admits this will hurt everyone. Well, not the rich because they can afford anything. This will hurt the poor. Let's go, Brandon.

  10. Hey I took out a loan to buy a car so I could go to work every day. Is Biden going to forgive that loan ? How can he pick and choose who gets loan forgiveness ?? This is so unfair ! I hope the majority of people make some noise and demand equality !!

  11. Every time President Biden does something good for the middle-class people others cry about . That’s what Democrats do! when a Republican takes office then will cry ! The cycle of living in the United States..

  12. I see quite a few folks are upset angry and salty and feel they are being treated unjustly by this new policy.
    I know how it feels to be treated unjustly, No one need explain to me the feeling of being treated unjustly and to those people I will simply say to you what has been said to me when I have been faced with injustice due to US government policy.

    I am sorry you feel the way you do
    You have the right to disagree with the Policy
    And always remember if this policy is too much for you or you feel that America has treated you unjustly you can always find another country to live in.
    America Love It or Leave It.

  13. Why are so many people concerned with Tax Burden on citizens?
    I never hear the media doing in depth coverage to show the American people how much of their tax dollars are going to pay for the Over $1 trillion due to Iraq and Afghanistan. I do not see a bunch of outrage over $50 Billion being sent to Ukraine.
    Perhaps Student Loans are a soft target so the critics will express more anger against it as opposed to over $1 trillion dollars wasted that they will Never benefit from and will probably be labeled un-american for bringing it up.

    I can't take the concern of those that criticize Student Loan Forgiveness seriously. As far as I am concerned the critics believe in practicing situational outrage. If it is worthy of outrage then the Outrage should happen all the time because if it is wrong and concerning it should be that way all the time and if not then it is disingenuous.

    One last observation those complaining about Biden buying votes, This is what Politicians do. If the politician don't deliver what their political donors care about they don't get any money.

    If the politician don't deliver what their constituents care about they won't get votes. I wonder how many conservatives would vote for a Republican candidate that does not deliver what they care about such as CRT or Ensuring that Abortion is illegal or $1 trillion for more cops.

    No matter how you feel about it, a politician must deliver what those that are putting money in his pocket and giving him votes demand, I believe in this country it is what defines American Democracy.

  14. Thank you! Many black Americans (even now) are first generation college degree recipients, who never had the luxury of their parents paying full tuition from vast saving accounts, or equity from their homes located in the right neighborhood, or cushy investment funds. Many worked and got loans to fill the gap. I have a friend who is a social worker, helping to rescue kids from horrible domestic situations, is now so grateful for student loan forgiveness on a loan she's been paying back for years. Funny how there was no outrage when Trump gave a $2.4 TRILLION dollar tax break to the VERY RICH. Or when billion-dollar corporations got forgivable PPP loans. There are countries (far less rich than America) who offer free college to their citizens. America can and should do better.

  15. Is tuition the only thing that's expensive right now? What about housing? That's basically unaffordable too. What about cars? What about food? What about furniture? What about the crashing stock market? Are there going to be forgiveness programs for all of those too? In economics 101, the first thing you learn is the following: "There is no free lunch"

    I'm not saying that people aren't struggling. I'm saying the opposite – EVERYBODY is struggling. by rewarding certain people instead of others based on arbitrary criteria of what one administration thinks is important, all you do is make life more unaffordable for everyone else. So instead of everyone having an equal opportunity to achieve the American Dream, we all fall to the lowest common denominator and become equally poor because there will ALWAYS be someone who is struggling.

    When will we enforce accountability and responsibility? My first couple years after graduating college, I lived like a bum and dedicated the majority of my savings to pay back my student loans. You can do it too. People work 2 or sometimes 3 jobs to do it, but it's what you signed up for. It's wrong to abandon your responsibility and pass it off to people who are already struggling as-is.

  16. Republicans refuse to make even the smallest positive reform.. Why should democrats play fair if republicans goals are to make students suffer.

  17. Why do they always capitalize "Black" and not "white"???? Hahahahah this country is turning into a laughing stock. They always always always leave out Asians. Asians usually have less debt than everyone and graduate at a higher rate with higher GPAs. Nothing about that though.

    All the left seems to do is constantly pit white people against black people. On top of that they take care of illegals and criminals better than the average American. At this point we all should know by now that they do it on purpose. Defund the NAACP!

  18. Only congress can forgive a debt. You democrats fall for the lies every two years. And the government controlled propaganda network promotes them all. ABC knows he can't do this. Biden knows he can't do this. This is more false promises for votes.
    “People think that the President of the United States has the power for debt forgiveness. He does not. He can postpone. He can delay. But he does not have that power. That has to be an act of Congress,”

    ~Nancy Pelosi. Speaker of the house. July 28th 2021

  19. John graduates high school and takes out a loan
    for 50,000$ to start his plumbing company. He
    buys plenty of expensive tools, A work truck and
    learns a trade.
    Chris graduates highschool and choses to take
    out a loan for 50,000$ to go to college to study
    liberal arts
    John works for 5 years to build and pay for his
    Chris graduates from college with a debt he cant
    afford to pay.
    Chris gets his debt forgiven by Joe Biden.
    Johns taxes go up to pay for chris's unpaid debts.
    John then gets audited by 1 of the 87,000 new
    IRS agents and has to prove his truck and tools
    are actual work expenses.

  20. Well, if he just writes it off with no payment to the lenders, yes. If he prints money to pay the lenders, yes. If moves the burden of the loan to the taxpayer, yes. If he was to do nothing, no.

  21. Will Earth crash into the Sun?
    Will alien ships land soon?
    Will Dr. Johnson be able to save little Timmy's arm?
    Why T F do you speculate on this?
    THAT is what we want to know!

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