Sen. Elizabeth Warren and Sen. Mitch McConnell
Sen. Elizabeth Warren and Sen. Mitch McConnellWin McNamee/Getty Images, Anna Rose Layden/Getty Images)
  • Biden's student-loan forgiveness was denounced by McConnell.

  • McConnell went to college at a cost of $330 a year.

  • After Biden's debt cancellation announcement, many Republicans were offended.

Republicans were quick to slam the President's recent student-loan forgiveness announcement.

Up to $20,000 in student-loan forgiveness was announced by Biden on Wednesday for people who make less than $125,000 a year. Senate Minority LeaderMitch McConnell was not a fan of the policy that many Democrats were waiting for.

McConnell wrote that Biden's student loan socialism was a slap in the face to every family who sacrificed to save for college, every graduate who paid their debt, and every American who chose a certain career path to avoid taking on debt. The policy is unjust.

Elizabeth Warren didn't want to let McConnell off the hook for his comments, so she pushed Biden to approve $50,000 in student loan forgiveness.

Warren said that McConnell graduated from a school that cost $330 per year. It costs over $13,000 today. McConnell has done nothing to fix it, and is irate that the President is helping people who are in debt. The lectures on fairness can be spared by him.

—Elizabeth Warren (@SenWarren) August 25, 2022

McConnell graduated from the University of Louisville in 1964. As has been the case with colleges all over the country, tuition has gone up and the cost of attendance has gone up as well. While many other Republican lawmakers have joined McConnell in calling Biden's relief unfair to taxpayers and those who have paid off their debt, some of them have introduced legislation to address higher education costs without student loan relief.

The bill would end targeted loan forgiveness programs and prohibit tuition and fees from exceeding the expected earnings of a certain program. The bill introduced by Scott would hold university administrators accountable for the price of education.

Warren and other Democrats believe student loan forgiveness is the best way to deal with higher education costs.

20 million Americans won't have to make another student loan payment. There will be relief on student loans for another 23 million people. Helping America's middle class and giving relief to those who need it most is what this is about.

Business Insider has an article on it.