Manchin calls Biden $500 billion student loan handout “excessive”

Source: Fox News

“Sen. Joe Manchin, D-W.Va. called President Biden’s student loan forgiveness initiative ‘excessive’. Manchin told reporters Tuesday, ‘I just respectfully disagree on that.’ Biden’s student loan forgiveness package is estimated to cost around $500 billion, and the White House says they will pay for it with deficit spending. Biden announced last month that he will cancel $10,000 of federal student loan debt for certain borrowers making less than $125,000 per year, and up to $20,000 for Pell Grant recipients, while extending the pause on federal student loan payments through the end of the year. Manchin recalled past consultations with constituents who were struggling with student loan debt, telling reporters that he would suggest federal employment to those looking to get on top of repayments.” (09/07/22)