Biden’s student loan ‘forgiveness’ is just Joe sticking it to the little guy — again

Team Biden’s student-loan “forgiveness” scheme is yet another example of a misguided and dangerous policy initiative masquerading as a public good — no surprise from an administration in which political missteps are the norm.

The left is heralding the plan, which will “forgive” $10,000 for student-loan borrowers making $125,000 or less and $20,000 for Pell Grant recipients, as genuine assistance for millions of debtors. But it’s like a Band-Aid on a gunshot wound. It not only falls short of the hype but provides a false sense of financial relief, worsening an already deeply broken ­system.

The reality is that it’s not the government “forgiving” debt but the US taxpayer being forced to cover it. And estimates show canceling $10,000 per borrower earning less than $125,000 will cost the country a whopping $300 billion — and each US taxpayer around $2,000. It’s easy to recall the left’s hysteria of the not-so-distant past when President Donald Trump sought $15 billion to build his border wall.