Peach Tree Times

President Biden's student loan forgiveness plan, supported by Sen. Ralphael Warnock (D-GA), "is easily the worst domestic decision of his Presidency," the WSJ Editorial Board wrote.

The board called Biden's plan to cancel up to $20,000 of student loan debt per borrower, while also extending the pause on federal student loan payments an abuse of power by the president and will mainly affect taxpayers who otherwise have no obligation to pay off other college grads' student debt.

Warnock, who is up for re-election in November, supports Biden's debt-forgiveness plan and actually advocates for even more forgiveness than what's in the current plan.

"In GA, the average student loan debt is over $40K—creating financial burdens that weigh down millions of families," the senator said on Twitter last year. "I’m proud to join my colleagues in calling on @POTUS to cancel up to $50K in student debt for borrowers, helping push our country toward economic & racial justice.

In May, Warnock told Biden that Georgians want strong debt relief, stating in a press release, “Significantly canceling student debt can’t come soon enough, as Georgia student loan borrowers still have a mountain to climb as they continue navigating the changing economy. This relief would lower people’s financial burdens and spur entrepreneurship."

As reported by Fox News, President Biden announced Wednesday that for borrowers making less than $125,00 a year, he will cancel $10,000 of federal student loan debt. For borrowers who attended college on Pell Grants, Biden's forgiveness extends up to $20,000 in student loan debt. In addition, Biden has extended pandemic-era payment freezes through the end of this December.                

At a press briefing, Speaker of the House Nancy Pelosi acknowledged Biden does not have the power to forgive student debt.

"REMINDER: Biden doesn't have the authority to forgive student loan debt. Even Speaker Pelosi agrees. PELOSI: 'People think that the President of the United States has the power for debt forgiveness. He does not... The President can’t do it. So that’s not even a discussion.', " the Senate Republican Communications Center said on Twitter.       

The WSJ Editorial Board says the tens of millions of Americans who will pay for the write-off are those who either didn’t go to college, have already repaid their debt, skimped and saved in order to pay for college, or chose to attend lower-cost schools to avoid a debt trap.