President Biden will reportedly spend $230 billion on student loan relief. That's not enough for Rep. Ocasio-Cortez

“It’s not official” but, it looks like President Joe Biden will cancel $10,000 of student loan debt per borrower with an income of less than $150,000 individually, $300,000 married filing jointly:

It’s not official till it’s official, but senior Biden officials tell @tylerpager & me the current plan is for Biden to cancel 10K in student debt per borrowerhttps://t.co/YWTBywoPcb

— Jeff Stein (@JStein_WaPo) May 27, 2022

From the Washington Post:

White House officials are currently planning to cancel $10,000 in student debt per borrower, after months of internal deliberations over how to structure loan forgiveness for tens of millions of Americans, three people with knowledge of the matter said.

President Biden had hoped to make the announcement as soon as this weekend at the University of Delaware commencement, the people said, but that timing has changed after the massacre Tuesday in Texas.

The White House’s latest plans called for limiting debt forgiveness to Americans who earned less than $150,000 in the previous year, or less than $300,000 for married couples filing jointly, two of the people said. It was unclear whether the administration will simultaneously require interest and payments to resume at the end of August, when the current pause is scheduled to lapse.

Total cost? $230 billion:

Wiping out $10,000 of debt per borrower could cost roughly $230 billion, according to estimates by the Committee for a Responsible Federal Budget, a nonpartisan think tank.

But this isn’t enough for many liberal activists:

$10k means tested forgiveness is just enough to anger the people against it *and* the people who need forgiveness the most.

$10k relieves most the people who owe the least. What relief is there for the most desperate? For them, interest will undo that 10k fast. We can do better. https://t.co/HhfWbeCf0v

— Alexandria Ocasio-Cortez (@AOC) May 27, 2022

Wait, she’s angry at the means-testing level of ~ checks notes ~ $150,000?

Looks like AOC is mad that only poor people will get debt relief, and most of her rich friends who don’t want to pay, want free money, will be left out. https://t.co/Tm59B8uKRW

— Cernovich (@Cernovich) May 27, 2022

NAACP President Derrick Johnson is furious, too, calling the quarter-trillion proposal “like pouring a bucket of ice water on a forest fire”:

.@DerrickNAACP on reports Biden will cancel $10K in student debt: "President Biden, canceling $10,000 in student loan debt is like pouring a bucket of ice water on a forest fire." pic.twitter.com/CzJNugwBGS

— Ayelet Sheffey (@arsheffey) May 27, 2022

This really is “amazing.” Nothing is good enough!

Amazing for the Biden admin to come up with an illegal scheme for student loan forgiveness (which will piss off a ton of regular voters and is terrible policy for multiple reasons) only for the extremists he was trying to appease to still be mad he didn’t go further. https://t.co/iCvtmh4tZI

— AG (@AGHamilton29) May 27, 2022

Here’s the counteroffer, Sandy. Zero: