Turns out student loan forgiveness isn’t such a bad idea — at least when it’s coming from Trump.
After years of Republicans blasting Biden’s debt relief plans, President Trump has now struck a deal with the American Federation of Teachers to allow forgiveness for millions of long-time borrowers under programs his admin had previously blocked.
Borrowers who have spent 20–25 years repaying loans through income-driven plans, like ICR or PAYE, will finally see their balances wiped — and they won’t be taxed on the relief.
But there’s a catch: Trump’s also moving to phase out these older repayment plans by 2028, meaning future borrowers won’t have the same options.
Trump and Republican lawmakers, such as former Senate Minority Leader Mitch McConnell and Sen. Rick Scott (R-FL), condemned Biden’s old plan, arguing it would be an unnecessary burden to American taxpayers, effectively making some Americans pay for expensive educations:
“The Trump administration will never force taxpayers to pay student loan debts that don’t belong to them,” White House Press Secretary Karoline Leavitt said five months ago.
“The way the Biden administration sees it, working Americans should foot the bill for the advanced degrees, whether they choose to pursue them or not,” McConnell said about Biden’s loan forgiveness plan three years ago.
Biden added “$600 billion to $1 trillion to the debt,” current Senate Majority Leader John Thune said three years ago.
“A construction worker in Florida is having to foot the bill for the loans of a Harvard grad, which they voluntarily accepted for an education they received,” Scott said in 2022.
“Not in favor of prioritizing people who have a lot of advantages when there are other folks who can’t afford to go to college,” Hawley said the same year.
