August 25, 2022 12:55pm EDT
Biden White House fumbles basic questions on student loan handout, won’t answer who will pay for it
Multiple officials could not answer how much the handout would cost or how it would be paid for
By Nikolas Lanum | Fox News
White House officials on Wednesday and Thursday struggled with basic questions when pressed on President Biden’s student loan handout, often dodging inquiries on how much the initiative would cost and whether it is unfair to Americans outside the plan’s scope.
Biden announced up to $20,000 in federal student loan forgiveness on Wednesday. Students who attended college using federal Pell Grants qualify for the $20,000, but those who did not use the program qualify for $10,000 in forgiveness. The handout only applies to borrowers making less than $125,000 per year.
During Wednesday's press briefing, White House Press Secretary Karine Jean-Pierre tiptoed around the question of who will pay for it when asked by Fox News correspondent Peter Doocy.
Noting that debt forgiveness does not equate to "disappearing debt," Doocy’s question prompted Jean-Pierre to claim the money generated from interest after the moratorium ends would "offset a lot" of Biden’s plan.
"When you think about the $4 billion that's going to go back into, as revenue, back into this process as folks paying their college tuition, that matters as well," she said. "We're doing this in a smart way. We're doing this in a way that's going to be effective."
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https://www.foxnews.com/media/biden-white-house-fumbles-basic-questions-student-loan-handout-wont-answer-who-will-pay
