President Joe Biden’s student loan “relief” plan is an egregious redistribution of wealth. The plan would provide “debt cancellation” (meaning a taxpayer-funded bailout) of up to $10,000 for borrowers making less than $125,000, and up to $20,000 for Pell Grant recipients. The White House claims this plan will reduce costs for up to 43 million with student loans and cancel the full balance of roughly 20 million of them.

Aside from being unfair and a blatant political ploy to buy votes just before the November elections (which is already backfiring), there is the issue of whether the cancellation is constitutional. Several attorneys general are seeking plaintiffs to challenge the plan.