Then on Wednesday, just two days ago, the Biden administration announced an additional cancellation of $4.5 billion for 261,000 borrowers. The president's actions this week and the last week of his presidency brings this total taxpayer bailout to $183.6 million billion dollars. Now, remember last June or June of 2023, the Supreme Court ruled in a 6 to 3 decision that the Department of Education lacks the authority, the legal authority to implement these across the board student loan cancellations. (01:08–01:21)
CLAIM
Asserts that the total cost of student loan cancellations is $183.6 billion.
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