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Americans who received $35,000 in debt relief deserve it, but those who didn't go to college and are in debt are being financially crushed. They need help to get their lives back on track.

In 2015, we announced initiatives that have led to significant savings. Recently, we clarified that Social Security, Medicare, and Medicaid remain unaffected by our actions. We are targeting waste and fraud within the bureaucracy. Notably, we halted $50 million intended for Gaza, which was misused by Hamas. We also canceled $181 million in DEI training contracts and paused $170 million in unauthorized payments to foreign organizations, including over $40 million meant for the World Health Organization. Additionally, we blocked $45 million allocated for diversity scholarships in Burma.

I provided record funding to historically black colleges and universities during my time. The heads of these colleges would visit Washington annually, seeking long-term financial support that they were not receiving.

I aim to make everyone eligible for COVID relief and fight for housing for black Americans. I propose millionaires pay 1% more in taxes without raising Social Security costs. I reduced my golf handicap as vice president. I want Medicare to negotiate drug prices. I will fix taxes for the wealthiest Americans. I support a total ban on border patrol and more asylum officers.

President Trump's visit resulted in over $54 million secured for families in need, enrolling 2,600 previously unassisted families in support programs. We've significantly reduced our open cases—almost 80%—in just five days. His commitment to underserved communities is evident in his first major initiative connecting farmers with recovery assistance. I recently spoke with Mark, a local microfarmer, about the beneficial FEMA programs he's accessed. These programs are proving incredibly helpful.

The Loan Program Office supplied a little over $40 billion in its fifteen years. Almost $100 billion was then supplied in the 76 days between the election loss and President Trump's inauguration. The speaker questions why, if these were beneficial ideas, they weren't implemented in the two and a half years after the Inflation Reduction Act. According to the speaker, the previous administration changed terms and loan covenants, attempting to complicate unwinding their actions. The speaker asserts this is not a responsible way to handle taxpayer money or advance the energy system. They state that they inherited a mess, but it is fixable with an aggressive team. They claim American energy prices are down and investments to bring jobs back are up, but acknowledge the need for cleanup.

If you earn less than $400,000 a year, your federal taxes won't increase. I managed to achieve this without raising taxes on the middle class. Additionally, I successfully reduced the federal budget by $1.7 trillion in just two years.

There is $1.3 trillion in student loan debt, with $800 billion owed by taxpayers. The student loan program started by President Obama is seen as benefiting him, not the public. Critics believe it is a ploy to secure votes, even at the expense of non-college graduates. This could lead to forgiveness of loans for non-profit and Ivy League schools, impacting future elections.

I am announcing a new initiative for emergency price relief for all Americans. On day one, I will sign an executive order to eliminate burdensome regulations that increase the cost of goods. My administration has already seen the most significant regulatory reductions in history, contributing to our strong economy. Additionally, I will create a cabinet position dedicated to reducing the cost of living. We need to streamline regulations, as many are excessive and unnecessary. All agencies will be evaluated daily on their efforts to lower household costs. This will be the most aggressive regulatory reduction ever, aiming to save the typical household $7,000.

In my first years as president, I managed to reduce the debt by $1.71 trillion, which is the largest reduction in history.

I reduced the national debt by $1.7 trillion, cutting it in half. In the last two years, we cut the debt by $1.7 trillion. This is a significant reduction that no one has ever achieved before.

The federal government announced that student loan collections will begin May 5. For those in default, the government can garnish wages, seize tax returns, and even take benefits like social security. Default can lead to collections. Currently, about 5.3 million people in the United States are in default, which will disproportionately hurt those already struggling. The speaker believes the government is trying to cripple as many people as possible and doesn't care about their health or if they die. The speaker feels this paves the way for more "bullshit." The speaker notes that the number of people in default is about the same as those who have been at the protests. The speaker will see everyone May 1 at the next protest.

Debt cannot be wiped away; it is transferred to others. The Trump administration believes Americans who didn't attend college or responsibly paid their loans should not pay for others' student loans. Borrowers will be expected to repay their loans, and those who default will face involuntary collections. The government will collect defaulted federal student loan debt by withholding money from borrowers' tax refunds, federal pensions, and wages. America is $36 trillion in debt, and fiscal responsibility must be restored. If you take out a loan, you have to pay it back.

The speaker believes it should be illegal to put interest on student loans. They took out a $50,000 loan for a research year during med school, but the interest totals $78,000, meaning they will owe $128,000 total by the end of payment. After school, the speaker called Sallie Mae, who offered $250 payments for a year. However, the speaker claims that paying the minimum on the loan only shaves off the interest, meaning the loan never goes away. Separate from the $50,000 loan, the speaker has $250,000 in loans through med school. In total, the speaker has $300,000 in direct debt, but with interest, the debt is over half a million dollars.

The White House announced a new student debt relief program benefiting 30 million borrowers. The speaker, a congresswoman, won't benefit but believes it will help others pursue goals like buying a house or going back to school. She shares that she couldn't afford medical school in the past, hoping this program will enable others to pursue their dreams.

In just under a month, the Department of Government Efficiency has already saved over $55 billion, and this is only the beginning. We're on track to eliminate trillions of dollars in waste, which will lead to significantly lower inflation and interest rates. This will also result in reduced payments on mortgages, credit cards, and car loans, and a much stronger stock market. I anticipate the stock market performing exceptionally well. Our strategy involves rapidly expanding the economy by significantly reducing the size of the federal government, and this is a crucial step we must take.

The Loan Program Office supplied a little over $40 billion in its fifteen years, then almost $100 billion in the 76 days between the election loss and President Trump's inauguration. The speaker questions why these actions weren't taken in the two and a half years after the Inflation Reduction Act passed. According to the speaker, the previous administration changed terms and loan covenants, attempting to complicate any unwinding of their actions. The speaker characterizes this as irresponsible treatment of taxpayer money and detrimental to energy system progress. The speaker states that while they inherited a mess, it is fixable. They claim their team is aggressively addressing the issues, resulting in lower American energy prices and increased investments bringing jobs back to America.

A politician seeking the youth vote should suspend all visas until college graduates can find jobs, as these graduates are entering the worst job market in American history and should be prioritized over foreign nationals. The speaker advocates for a total moratorium on all visas until pre-pandemic unemployment levels are reached, followed by passing the Raise Act, which cuts visas dramatically. Politicians should represent the interests of the 24,000,000 college students suffering under the cost of college, especially since these students lack lobbyists and are not getting refunds from their colleges. The speaker claims the ruling class does not care about this generation.

The Department of Education has reduced staff by about 50% through a RIF program, closing district offices and consolidating for efficiency. Commissioners of Education are reportedly pleased with increased control over their states' education, anticipating improved test scores with their own programs. Proper enforcement of Title IX protections has been returned to schools. Funding to Columbia and other schools has stopped due to Title IX and Title VI infractions. These institutions are allegedly making campuses safer, addressing out-of-control antisemitism. Loan recollection on student loans delinquent since March 2020 will begin again, effective May 5. The goal is not punitive, but to help people get back into the right payment structure so they can improve their credit scores. There has been a $60 billion increase in student loan debt since 2020, totaling almost $1.7 trillion. The aim is to implement best practices in every state, incorporating AI to train new entrepreneurs and business leaders.

Joe Biden's student loan forgiveness plan, which is worth $1 trillion, is being criticized for benefiting wealthy individuals. The plan has already forgiven $127 billion in student loans, on top of the $350 billion in loan deferrals due to the pandemic. Critics argue that college graduates, who earn more than the average taxpayer, are benefiting from taxpayer money. The interest rates on student loans were already heavily subsidized, and certain groups, such as government employees, have their loans forgiven entirely. The Biden administration is expected to continue using taxpayer funds to secure votes, even selling off national assets like the Strategic Petroleum Reserve. Critics believe this administration prioritizes special interest groups over struggling taxpayers.

I reduced the deficit by $1.7 trillion in just 2 years. No one has ever achieved this before.

The economy was in a tailspin when this administration took over due to the mishandling of COVID by the previous administration. President Biden passed the American Rescue Plan, which helped small businesses and schools reopen. We understand that it will take time for Americans to feel the effects, but we have seen the economy improving. We had to fix the problems left by the last administration.

In under a month, the Department of Government Efficiency has already saved over $55 billion, and this is only the beginning. We're targeting trillions of dollars in waste, which will lead to significantly lower inflation and interest rates. This will also bring down payments on mortgages, credit cards, and car loans, while boosting the stock market. I believe the stock market is going to perform exceptionally well. Our strategy involves rapidly growing the economy by dramatically reducing the size of the federal government, a necessary step for our nation's prosperity.

The speaker argues that the mortgage and housing markets are being distorted because underwriting relies heavily on credit scores, while lenders and brokerages aren’t focusing on debt-to-income ratios or credit quality. They note that credit scores were inflated due to reporting gaps and moratoriums during forbearance, which hid delinquencies. A Federal Reserve study indicated that student loans can cause drops of over 180 points in credit scores overnight, because student loan reporting to credit agencies occurs only when you are 90 days delinquent, with no earlier indicators like 30- or 60-day delinquencies. The speaker mentions that many people thought loans wouldn’t be collected, but the contracts were signed. They point out that Department of Education data show about 20% delinquency on student loans, contradicting a claim that delinquency was minimal. Additionally, around 4.5 million people are currently in payment plans (through PAYE or SAVE) that involve paying nothing, and if a broad new repayment plan passes, millions could be required to start paying around $600 a month. Since GDP is about 70% consumption, the speaker warns that many people unable to spend $600 could have a large negative impact on the economy. Affirm, a major buy now, pay later lender, began reporting to credit on May 1, which could affect credit scores as people stack multiple small loans (e.g., for shoes and groceries). This stacking behavior would be viewed negatively by lenders, yet the impact may not appear in Fed numbers until after Q2. The speaker asserts ongoing inflation in everyday items, rising property taxes, insurance costs due to widespread events (including tornadoes and floods across the country), and higher replacement costs, all contributing to financial strain. Appraisals were previously inflated; Fannie Mae analyzed 7,000,000 comparables and found that 55% did not list seller concessions properly, inflating values. Consequently, many homeowners may believe they are wealthier than they actually are, leading to increased borrowing against perceived equity via buy now, pay later or credit cards. The Fed reported a February 2023 spike in mortgage refinance rejection rates, at 41.8%, the highest since tracking began in 2013; the prior month was 27%. The speaker concludes that the doors of credit are closing across the system, affecting individuals who previously qualified based on current payments rather than long-term affordability. They emphasize that people qualified for credit because they could make a payment at the time, but now broader credit constraints are emerging.

Working with our team, we've identified $260 million in savings on contracts alone. Under President Trump's leadership, we're committed to eliminating fraud, abuse, and streamlining processes. I'm pleased to announce these significant savings and our ongoing efforts to be responsible stewards of taxpayer dollars. We anticipate finding even more savings in the future.