In an effort to garner votes and secure what’s left of his approval rating, President Joe Biden announced Wednesday he will still be forgiving over $1 billion in student debt for roughly 153,000 borrowers who are enrolled in the Saving on a Valuable Education repayment plan. According to the new guidelines, some eligible applicants who borrowed less than $12,000 and have made 10 years of payments can have their debt forgiven.

The SAVE plan is Biden’s new, improved debt forgiveness scheme after his last one was shot down by the Supreme Court. It’s still wrong on principle.