Biden’s student loan plan is a bold response to the Supreme Court.
The Biden Administration Faces Opposition to Student Loan Forgiveness Plan
The Biden administration’s latest effort to forgive student loans for 800,000 borrowers has sparked controversy and criticism from political rivals. The administration’s move has been accused of defying the Supreme Court, following the court’s rejection of President Joe Biden’s previous attempt to cancel up to $20,000 in federally held student loans for borrowers earning less than $125,000.
However, the Department of Education announced on Friday that it would be canceling loans for the 800,000 borrowers through an adjustment to the federal income-driven repayment program, despite the Supreme Court’s ruling.
Opposition to the Plan
Defense of Freedom Institute President Bob Eitel expressed his disapproval of the Biden administration’s latest action, describing it as “an in-your-face response” to the Supreme Court’s decision. Eitel believes that the administration is under immense political and progressive pressure to fulfill its promise of student loan relief, leading them to take any necessary steps, including this one.
House Education and Workforce Committee Chairwoman Virginia Foxx (R-NC) also criticized the administration’s plan, calling it “shameful” and accusing President Biden of damaging the postsecondary education financing system in an attempt to secure votes in the next election.
Eitel further expressed skepticism about the administration’s approach, stating that he doubts the legal basis for the loan forgiveness and questions whether each borrower’s case was thoroughly assessed before granting forgiveness. He believes that the department may not have conducted a proper review of all 800,000-plus borrowers, raising concerns about due diligence.
The Job Creators Network Foundation, which previously filed a lawsuit against the original student loan forgiveness program, released a statement indicating that they are considering challenging the latest effort in court. The organization believes that the plan fails to address the root cause of the student loan crisis, which they attribute to unaccountable colleges with inflated tuition rates and substantial endowments.
JCNF President Elaine Parker stated, “This plan will only exacerbate the problem by giving a blank check to colleges to overcharge and letting them off the hook for their role in this crisis. JCNF is currently reviewing this plan and weighing its options to fight it.”
Despite the opposition and potential legal challenges, the Biden administration remains committed to providing relief to student loan borrowers, aiming to alleviate the burden of student debt.
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