White House: Biden’s Fighting Inflation with Student Loan Plan

On Thursday’s broadcast of Bloomberg’s “Balance of Power,” White House Council of Economic Advisers member Heather Boushey stated that President Joe Biden is fighting inflation and its impact by “lowering the cost of student debt for all of those borrowers” with the student loan plan he announced earlier in the week.

Boushey said, “[T]he President has been focused on using all the tools that he has at his disposal to make sure that he lowers costs for families. So, this is the first President to be negotiating with Big Pharma over prescription drug prices. That’s going to lower prices for seniors all across the country. Of course, he’s lowering the cost of student debt for all of those borrowers. He made a big announcement earlier this week, and it’s going to affect 30 million borrowers across the country. And he’s just really focused on all the other ways that we see prices increase. For example, all the work that we’ve done across the administration to get rid of junk fees, those hidden fees that we all have to deal with. So, it’s adding up these, the President is doing his part to really address the fact that it’s been hard on families to have these high prices, and to do what he can to lower them.”

Follow Ian Hanchett on Twitter @IanHanchett


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