Biden 'failing pretty epically' on student loan debt messaging, could be 'election liability' in 2024: Report
TikTok influencers are beating the Biden administration in the competition to inform the public about debt, paying off student loans and removing debt through government programs, according to a recent Politico story.
"Student loan borrowers say they want more from the Biden administration," the outlet wrote in a story published Wednesday. "But the White House is woefully outmatched by content creators — the social media stars with large followings and a knack for short-form video editing — reaping the benefits of people desperate to escape their debt. Losing Gen Z and millennial borrowers to online self help risks letting confusion fester into frustration and turning one of Biden’s biggest economic promises into an election liability."
"We’re hearing from people that there’s just a lot of confusion and they don’t really know where to go for help," founder of MyCreditCounselor, Andrew Weber, told Politico. "That opens the door for misinformation or these debt relief scammers."
Politico called out the Biden administration for a weak "social media game," which it wrote was "pretty cringe."
"The White House’s single TikTok video on SAVE has one lonely like and fewer than 100 views," the outlet wrote. The SAVE plan is an "income-driven repayment (IDR) plan that calculates payments based on a borrower’s income and family size – not their loan balance – and forgives remaining balances after a certain number of years," according to the White House's description of the program.
"The Education Department has 49 followers on TikTok but hasn’t posted any videos about the repayment option it’s advertising elsewhere," according to Politico. "And on Instagram, where the agency has about 55K followers, there’s only one post about SAVE and none about entering repayment."
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"If the government is trying to help us be educated on what the next steps are and what it is that we need to do, they are failing pretty epically," one student loan debt holder told the outlet. "It sort of feels like, to me personally and to a lot of my peers, that we’ve just been left high and dry."
The White House and the Education Department did not immediately respond to a request for comment from Fox News Digital.
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