We needed to bypass obstacles like Congress, law-making, and budgets. Over the next few weeks, a three-step plan took shape.
Step one: My team found a couple sentences in the 20-year-old HEROES law, written to give military personnel a break on student loans when they were deployed post-9/11. Well, we took those phrases, pretended they applied to the pandemic (which was still, totally, completely raging), and said borrowers wouldn’t have to repay $500 billion in student loans. MAGA Republicans sued, the MAGA Supreme Court had to stop us, and the game was afoot.
Step two: Once we’d planted the idea that we could give out free money, we set out on two parallel paths. We started “forgiving” borrowers on a piecemeal basis. A few billion dollars here and there didn’t seem all that newsworthy compared to our HEROES ploy, but it let the president keep sending emails to borrowers telling them he was giving them free money. (That made the president very happy.) Meanwhile, we rewrote Income-Driven Repayment to quietly turn student lending into a vast new entitlement, one that would eventually let us give away trillions of dollars without worrying about Congress or budgets.