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WSJ: Millions of borrowers won't know for months if their student loans are canceled

Wasn’t one of President Joe Biden’s accomplishments in 2022 canceling student loans to the tune of some $400 billion? Chief of Staff Ron Klain was awfully proud of how the federal government had put up a loan forgiveness application website that didn’t crash for a whole month, unlike Ticketmaster’s servers when Taylor Swift tickets went on sale. The site did get shut down, though, when the courts determined that, no, the president has no authority to forgive student loans, no matter what Sen. Elizabeth Warren tweets. Even Speaker Nancy Pelosi was caught on video saying he didn’t have the authority.

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The Wall Street Journal notes that as they head into 2023, millions of borrowers don’t know if their loans are going to be canceled or not.

Spoiler alert: Yes, they’ll have to pay back the loans.

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Just to be safe, these borrowers ought to assume that they will have to pay back their student loans. If Biden’s “plan” were at all legal, their debts would already have been canceled with a flick of his pen.

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