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$7.7 billion
CBS News: The White House on Wednesday said it has approved $7.7 billion of student debt cancellation for 160,500 borrowers, part of its ongoing effort to provide relief after the Supreme Court last year blocked President Joe Biden’s plan for broad-based college loan forgiveness.>/h2>
“Other bribe suggestions: Forgive auto loans? Forgive credit card debt? Forgive mortgages? And put a wealth tax on the super-rich to pay for it all. What could possibly go wrong?”
— Sen. Mitt Romney (R-UT) said President Biden consideration of forgiving student loan debt is a sign of desperation.