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Rep. Ocasio-Cortez Declares ‘Student Loan Debt Is Immoral’ as Biden Cancels Obligation

Craig Bannister | August 24, 2022 | 3:26pm EDT
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Rep. Alexandria Ocasio-Cortez
(Getty Images/Chip Somodevilla)

On Wednesday, President Joe Biden announced the cancellation of up to $20,000 of student loan debt for some Americans, prompting Rep. Alexandria Ocasio-Cortez (D-N.Y.) to post a celebratory tweet and flashback video.

“Student loan debt is immoral,” Ocasio-Cortez declared in her Wednesday post, in which she embedded video from a tweet she posted last December 3.

“We have a moral obligation, an economic obligation, a political obligation to cancel student loan debt in the United States of America,” Ocasio-Cortez says in the now-prophetic video.

“We’re being crushed by immoral debt. No person should have to go into debt, crushing debt, in order to get an education. It’s wrong. It’s backwards. And it doesn’t help us as a nation,” the congresswoman said in her speech on the House floor, calling for the cancellation of student loan debt.

“I’m greatly looking forward to the Biden Administration cancelling student loan debt,” Rep. Ocasio-Cortez said at the time.

On Wednesday, President Biden did just that, as Fox News explains:

“Biden said his administration will forgive student loan debt up to $20,000 for borrowers who attended college on Pell Grants; and $10,000 for borrowers who did not receive Pell Grants. Biden said the forgiveness ‘only applies to those earning less than $125,000.’ Biden also said that borrowers with undergraduate student loans are able to ‘cap repayment at 5% of your monthly income.’”

While Biden’s move frees some Americans from their student loan debt, it forces American taxpayers to pick up the hefty tab, Fox News notes:

“According to a Penn Wharton Budget Model, a one-time maximum debt forgiveness of $10,000 for borrowers who make less than $125,000 will cost around $300 billion for taxpayers.”

”People think that the President of the United States has the power for debt forgiveness. He does not,” Democrat House Speaker Rep. Nancy Pelosi (D-Calif.) said at a July 28, 2021 press conference.

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