the students are actually doing something that can earn the debt back again. the transparency lack of it in student debt, credit cards you get more information about what you owe in your payments. same with mortgages. you try to find out what your student loan situation is, not easy. as student loan repayments start on september 1st with the inflation that we ve seen under the biden administration he is trying to minimize the increased cost of repaying back the loans. the penn wharton budget model say it would cost taxpayers $475 billion extra. the changes announced would increase the cost. the department of education spokesperson telling me that students can go to student aid.gov right now and apply for the beta testing plan of this new student loan payback. bill: we ll see if it flies now. edward lawrence, fox business.
it s got to come from congress. this is going to get in trouble with the courts, too. yes. it will not pass. it will not pass. steve: vote buying device. stuart: that s exactly right. $475 billion over a 10-year period. 39 billion upfront. that s an extraordinary amount of money designed strictly to buy votes. that s what the president is doing. he knows he can t get it through the courts but what the devil? just propose it anyway and you will get the votes. brian: stuart is they have already had relief for two years they haven t had to make payments. during the pandemic chance to accrue some money, save some money and pay it back. other thing is, want to help them out drop the interest rate. it s about 9%. these are almost predatory loans they do to parents and students. i can t impress this enough. the entitlement society, the entitlement mentality has just taken off in the biden administration. and i don t know how we are going to bring it back. ainsley: he has to know t
here is what he said. here the student debt doesn t vanish, burden is transferred to taxpayers. the government pays for it. this is powering with joe biden, he knows he is exceeding power because white house considered education act and rejected it saying you can t do this under the constitution and the law. it does not give the president blanket authority to forgive debt. he is contorting the law, usurping congress and treating supreme court with contempt. ainsley: department of education officials say this is not the end, but could face legal pushback, in this case $49 billion. supreme court was looking at $400 billion. big difference. brian: if you go to trade school and paid it you hava, taxpayer dollars will go to a program that is now $475
a third party no labels event in new hampshire. senator joe manchin could be the top choice. everyone is just fed up. enough is enough. the parties have retreated. the penn wharton business school the debt loan government forgiveness plan will be $475 billion. if they can bend the rules to push their radical agenda, they will do it. people are consumed by their devices. selfie [inaudible] no one is living in the moment. everyone wants to make sure they get clicks. we begin with the latest in the hunter biden investigation. two irs whistleblowers will testify before the house oversight committee tomorrow as it continues to look into the biden family finances. wow, committee chairperson james comer, who is a man, says one of his former special agents has confirmed the administration was tipped off about the probe
ten years. a lot of dollars. edward lawrence will explain live for the white house. how do they explain that? exactly. the administration moving forward with that plan. i can tell you also at the top of the hour here the president starting to process to further work around u.s. supreme court ruling to block student loan forgiveness. in ten minutes or so the first public hearing under the department of education will start related to changing the rule under the higher education act of 1965. that change aimed at wiping out hundreds of billions of dollars more in student loan debt and taxpayers will pay for it. the white house also releasing today state by state breakdowns of changing how they count the months towards forgiveness. that s the plan you talked about at the top. 42,000 additional people eligible in new york forgiving 2 billion. as you said the wharton budget model says the move adds $475 billion to the federal debt. white house falling back on talking points.