{"id":2022934,"date":"2023-09-06T00:40:01","date_gmt":"2023-09-06T04:40:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gop-lawmakers-push-back-on-latest-biden-admin-student-loan-forgiveness-effort\/"},"modified":"2023-09-06T00:42:00","modified_gmt":"2023-09-06T04:42:00","slug":"gop-lawmakers-push-back-on-latest-biden-admin-student-loan-forgiveness-effort","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gop-lawmakers-push-back-on-latest-biden-admin-student-loan-forgiveness-effort\/","title":{"rendered":"GOP lawmakers oppose Biden administration&#8217;s latest student loan forgiveness effort."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgop-lawmakers-push-back-on-latest-biden-admin-student-loan-forgiveness-effort%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2022934&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Republicans Introduce Measure to Repeal Biden&#8217;s Student Loan Forgiveness Efforts<\/h2>\n<p>Over a dozen Congressional Republicans have taken\u2064 a stand against the \u200bBiden administration&#8217;s latest \u2063student loan forgiveness \u2063efforts.\u200c They argue that these efforts would burden taxpayers with over $500 billion of debt. <\/p>\n<p>In June, President Joe Biden&#8217;s $430 billion student debt relief plan was struck down by the U.S. Supreme \u200bCourt. In\u200c response, the administration unveiled an income-driven repayment (IDR) plan. This plan\u200d allows borrowers to repay their debt based on income and family size, with the remaining balance forgiven after ten years of payments for those with less than $12,000.<\/p>\n<blockquote>\n<p>&#8220;Once again, Biden&#8217;s newest student loan scheme only shifts the burden from those who\u200d chose to take out loans to those who decided not \u200cto go to college, paid their way, or already responsibly paid off\u2063 their loans,&#8221; said Sen. Bill Cassidy (R-LA).<\/p>\n<\/blockquote>\n<p>Sen. Cassidy, along with 16 Republican colleagues, introduced a \u200dCongressional Review Act \u200d(CRA) resolution to\u200c overturn the &#8220;reckless&#8221; Saving on a Valuable Education (SAVE) plan. This plan would relieve the principal amount on primarily\u200d bachelor&#8217;s degree student loans, potentially costing \u2062taxpayers as much as $559 billion.<\/p>\n<p>The lawmakers \u2062argue that under the\u2063 SAVE plan, 91% \u200cof new student debt would be eligible for reduced payments, with taxpayers eventually shouldering $0.50 on every $1 borrowed.<\/p>\n<blockquote>\n<p>&#8220;Our resolution protects the 87% of Americans who don&#8217;t have \u2062student debt and\u2064 will be forced \u2064to shoulder the burden of the President&#8217;s irresponsible and unfair\u2064 policy,&#8221; Sen. Cassidy added.<\/p>\n<\/blockquote>\n<p>According to the Penn Wharton Budget Model, the IDR rule would disperse billions of dollars annually to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gop-lawmakers-push-back-on-latest-biden-admin-student-loan-forgiveness-effort\/\" title=\"GOP lawmakers oppose Biden administration's latest student loan forgiveness effort.\">community college students expecting debt relief<\/a>. Lawmakers argue that\u200d this would turn \u2064the federal student loan financing system into a poorly targeted, taxpayer-funded grant program.<\/p>\n<p>Reps. Lisa McClain (R-MI) and Virginia Foxx (R-NC) have called the Biden administration&#8217;s student loan plan a \u2062&#8221;scam&#8221; and the \u2063costliest regulation in\u2062 U.S.\u2062 history.<\/p>\n<blockquote>\n<p>&#8220;The only\u200d difference\u2062 between President Biden and a snake oil salesman is a \u2063title,&#8221; said \u200bFoxx and McClain. &#8220;Biden&#8217;s administration knows what it&#8217;s doing is illegal, but it&#8217;s pushing forward anyway, promoting its SAVE scheme as a solution to America&#8217;s broken\u2064 student loan system. In reality, the SAVE scheme is a desperate effort\u200b to\u2063 curry favor and buy votes ahead of the next election.&#8221;<\/p>\n<\/blockquote>\n<p>Both Congressional Republicans \u2064and Democrats have criticized the \u2063president&#8217;s student loan relief efforts.\u2062 GOP lawmakers argue that these plans overlook the underlying issues that \u2062have led to the skyrocketing cost of college and increasing student debt.<\/p>\n<p>It remains \u200cuncertain if Majority Leader Sen. Chuck\u200c Schumer (D-NY) will bring the \u2063CRA to the floor for a vote, considering his opposition to Republicans&#8217; previous attempt to shut down Biden&#8217;s student loan forgiveness program before it was \u2062overruled\u200c by the Supreme\u200d Court.<\/p>\n<p>So far, the Biden administration has \u2063forgiven approximately $116 billion in student loans for over 3.4 million people.<\/p>\n<p>After the Supreme Court blocked the president&#8217;s initial student debt relief plan, Biden vowed to &#8220;stop at nothing to find other ways to deliver relief to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-biden-attempts-to-quell-fears-over-inflation\/\" title=\"Joe Biden attempts to quell fears over inflation\">hard-working middle-class families<\/a>.&#8221;<\/p>\n<p>Last \u200bweek, officials \u2062canceled\u2064 $72 million in student loans for about 2,300 borrowers who attended Ashford University, \u200ban online for-profit school that has since been acquired by the University\u2063 of Arizona.<\/p>\n<p><strong><a href=\"https:\/\/onelink.to\/dwapp\">CLICK \u200cHERE TO GET THE DAILY WIRE\u2062 APP<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over a dozen Congressional Republicans have proposed a bill to revoke the Biden administration&#8217;s recent student loan forgiveness initiatives. Lawmakers claim that these efforts would burden taxpayers with over $500 billion in debt. Following the Supreme Court&#8217;s rejection of President Biden&#8217;s $430 billion debt relief plan in June, the administration revealed a new approach.<\/p>\n","protected":false},"author":429,"featured_media":2022935,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2022934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2022934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/429"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2022934"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2022934\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2022935"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2022934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2022934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2022934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}