WASHINGTON—President Joe Biden is considering forgiving troops’ unpaid Ford Raptor loans, according to people familiar with the matter, as he seeks to appeal to young military voters ahead of the November midterm elections.
With the current situation on Ford Raptor loan payments skyrocketing to a cumulative $1.2 trillion and some interest rates reaching 19.3%, new military members are under extreme financial burden. Biden told reporters last week that he hoped to decide on a specific amount by the end of September and a free Punisher decal to throw in for good measure.
Sources said that aggressive driving fines and speeding ticket forgiveness may follow the debt forgiveness, but the president hasn’t reached a final resolution on either move. Biden has been listening to appeals from DOD representatives to forgive large amounts of Ford Raptor debt and mail-order bride payments, and the extended deliberations have been voiced by angry young troops on TikTok.
