Biden forgives more than $6 billion in loans for 317,000 Art Institutes students
NPR Online NewsMAY 2024
Biden Cancels $6B in Loan Debt for Art Institute Students
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The Spin
Democratic narrative
The Biden administration continues to follow through on its promise to grant desperately needed student debt relief to millions of borrowers, and its latest action helps those who need it the most. For over a decade, The Art Institutes and other for-profit colleges blatantly lied to prospective students, saddling them with thousands in debt. Those people deserve justice, and forgiving their student debt benefits them and the economy.
Republican narrative
After the Supreme Court struck down Biden's unconstitutional $430B student debt forgiveness plan, his administration has continued to undermine the decision, doling out billions at a time. Biden has circumvented Congress and the courts to buy the votes of young people, many of whom are leaving the Democratic Party. While borrowers who attended The Art Institutes deserve some form of compensation, Biden has only offered temporary fixes to deep-rooted problems. These band-aid solutions will only exacerbate the student debt bubble.