130 Republicans urge Biden to abandon student debt 'forgiveness' plan

(THE BLAZE) – A group of 130 Republican lawmakers sent a letter on Friday to the United States Department of Education demanding the Biden administration reverse its federal student loan "forgiveness" plan that requires American taxpayers to foot the bill for student borrowers. An April report from the Committee for a Responsible Federal Budget found…

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(THE BLAZE) – A group of 130 Republican lawmakers sent a letter on Friday to the United States Department of Education demanding the Biden administration reverse its federal student loan "forgiveness" plan that requires American taxpayers to foot the bill for student borrowers.

An April report from the Committee for a Responsible Federal Budget found that the administration's sweeping debt cancellations could add up to $750 billion to the national deficit.

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Last year, the Supreme Court rejected the administration's attempt to unilaterally zero out federal student loan debt for borrowers. Since then, the White House has rolled out multiple smaller but similar programs through its Saving on a Valuable Education Plan, a new income-driven repayment plan that sets monthly payments based on borrowers' income.

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The post 130 Republicans urge Biden to abandon student debt 'forgiveness' plan appeared first on WND.