Bernie Sanders.
Sen. Bernie Sanders of Vermont.Anna Moneymaker/Getty Images
  • The president announced student loan relief for some borrowers.

  • Republicans said it was an unfair burden to taxpayers, and Democrats said they had relieved their loans.

  • Republican's didn't complain about Trump's bankruptcies, according to Sen.

Republicans and Democrats continue to argue over President Joe Biden's decision to relieve student debt.

The Vermont senator responded with a fiery reply on Friday.

The Republicans complain about student debt forgiveness. I didn't hear those complaints when Trump had loans forgiven by banks. The GOP L-o-v-e-s socialism is for the rich.

There will be up to $20,000 in student-loan forgiveness for people making under $125,000 a year, as well as up to $10,000 in relief for other federal borrowers. Republican lawmakers were quick to slam the announcement and argue that the forgiveness is unfair to taxpayers.

Biden questioned the fairness of taxpayers subsidizing tax breaks for multi-billion dollar companies and pointed out the GOP lawmakers who received business loan forgiveness during the swine flu epidemic.

According to the Washington Post, Hillary Clinton was correct to say that Donald Trump had taken business bankruptcies. Trump told the Post that he counted the first three bankruptcies as one. The New York Times found in an analysis of Trump's tax returns that he had hundreds of millions of dollars in debt forgiven.

Biden's relief has been scrutinized by Democrats before. Elizabeth Warren noted that when McConnell graduated from University of Louisville, he only paid $330 in tuition.

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.

Some Republican lawmakers have complained about Biden's relief while also getting their Paycheck Protection Program loans forgiven, and the White House took to social media to call them out. The National Economic Council deputy director said "we absolutely think it's a fair comparison" after Republican Sen. Marco Rubio wrote in an op-ed that student loans are not comparable.

Further details on Biden's relief plans will be announced by the Education Department in the coming weeks and an application for loan forgiveness will be available in October.

Business Insider has an article on it.