{"id":2049213,"date":"2023-09-29T07:07:02","date_gmt":"2023-09-29T11:07:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bill-cassidy-blasts-latest-biden-administration-bid-to-forgive-student-loans\/"},"modified":"2023-09-29T07:11:53","modified_gmt":"2023-09-29T11:11:53","slug":"bill-cassidy-blasts-latest-biden-administration-bid-to-forgive-student-loans","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bill-cassidy-blasts-latest-biden-administration-bid-to-forgive-student-loans\/","title":{"rendered":"Bill Cassidy criticizes Biden administration&#8217;s attempt to forgive student loans."},"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%2Fbill-cassidy-blasts-latest-biden-administration-bid-to-forgive-student-loans%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=2049213&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>Senator Cassidy Accuses Biden\u2064 Administration of Pushing Costly \u200bStudent Loan Forgiveness Regulation<\/h2>\n<p>Senator \u200bBill Cassidy\u2063 (R-LA) has strongly criticized the \u200dBiden administration for persistently pushing through a new \u200cand expensive student loan\u2062 forgiveness regulation, despite its rejection by the Supreme Court earlier\u200c this year.\u200b In an engaging op-ed published in \u200bthe Washington Examiner, Senator Cassidy, who\u2064 holds a prominent position on the Senate&#8217;s Health,\u2064 Education,\u200c Labor,\u200d and Pensions\u2063 committee, argues that the administration&#8217;s income-driven repayment regulations are even more ambitious than the failed attempt to cancel \u2064up\u200d to $20,000\u2063 in loans for borrowers earning\u2063 less than $125,000. These regulations allow \u200bborrowers \u200dto make payments \u2062based on \u200btheir discretionary income, which is defined as income \u200cabove the poverty line.<\/p>\n<h3>California School District Sets Blueprint for Nationwide Teacher Housing<\/h3>\n<p>If borrowers consistently make payments \u2062for \u2062at least ten\u2062 years, they may become eligible for loan \u200dforgiveness. However, Senator Cassidy highlights\u2064 a concerning aspect of\u2062 the\u2062 new income-driven repayment\u200d rule, stating, \u2064&#8221;The new \u200dincome-driven \u200crepayment rule allows a majority of bachelor&#8217;s degree student loan borrowers to avoid paying back\u2063 even a loan&#8217;s principal.\u200b Ninety-one percent of new student \u200bdebt would be eligible for\u2063 reduced payments, subsidized by taxpayers. Just like Biden&#8217;s original \u2062student \u200ddebt cancellation \u200bscheme, this IDR rule\u2062 does not &#8216;forgive&#8217; debt.\u200b It transfers the burden of $559 billion in federal student loans to the 87% of Americans who don&#8217;t \u2063have student loans \u2014 including\u2063 to those who earn far less than\u2062 some who took\u200b the loans.&#8221;<\/p>\n<p>Senator \u200cCassidy has \u2062taken \u2063action by \u200dintroducing \u200ca Congressional Review Act\u200d resolution to repeal the\u200c regulation. While\u2063 such \u200bresolutions have been successful in passing through both chambers of Congress, they have\u200d typically been vetoed by President Joe Biden.<\/p>\n<p>Another critical\u2063 issue highlighted by Senator Cassidy is the failure of the regulation to\u2064 address the skyrocketing\u2062 costs of higher education. He writes, &#8220;Aside \u2064from\u200d being unfair, Biden&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-push-for-student-debt-forgiveness-would-cost-taxpayers-millions\/\" title=\"Democrats push for student debt forgiveness, would cost taxpayers millions\">student loan forgiveness<\/a> does not address the root\u2062 causes that\u2064 created the\u200d debt in the first place. For example, he does not hold\u200d colleges or\u200d universities accountable for rising costs. In the \u2063last \u200d30 years, tuition and fees\u2063 have increased by 80% at \u2062private nonprofit\u2063 colleges\u200c and by 124% at public four-year institutions.&#8221;<\/p>\n<p>Senator\u2063 Cassidy emphasizes that a comprehensive solution is needed\u200b to tackle the problem of rising \u2062tuition rates. He mentions\u2063 a package of\u2063 bills known as the Lowering\u200d Education Costs and Debt Act, introduced this year, \u200bwhich aims to alleviate the issues with higher \u2062education funding that have led to excessive tuition fees. He concludes by warning, &#8220;Biden&#8217;s failure to \u2063address rising tuition rates \u200cwon&#8217;t hurt the rich \u2014 only the middle- and \u2064lower-income Americans who will continue to be forced to take out more and more\u200d loans just to get an education. Republicans have brought \u2062forth a solution that holds colleges accountable for rising costs \u200band empowers students and \u2063families to make the best decision\u200b for their college career and beyond. But \u2063if Congress\u2062 fails to act, students will continue to drown in debt \u2064without a path for success.&#8221;<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\">Click here<\/a> to read more from the Washington Examiner.<\/p>\n<p> <\/p>\n<h2> What financial burden would the proposed\u2062 student loan forgiveness \u2064regulation place on taxpayers,\u2062 according to Senator Cassidy<\/h2>\n<p><span>  Ster competition or transparency,\u2061 and it \u2062does not \u200b\u200cencourage\u200d colleges \u2064\u200dto control costs associated with \u2064tuition and\u200d fees.&#8221; With this critique, Senator Cassidy highlights\u2064 the\u2062 potential negative \u2062\u200bimplications \u200cof the income-driven repayment regulation, suggesting that it may \u200dencourage a\u200b lack of responsibility among borrowers and \u200dfail to address the\u200d root causes of rising tuition costs.<\/p>\n<p>In addition to his criticisms of \u200bthe income-driven repayment regulation, Senator Cassidy also raises concerns about the \u2062Biden administration&#8217;s disregard for the Supreme Court&#8217;s decision \u2062on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-student-loan-forgiveness-education-department-reveals-which-states-have-the-most-borrowers\/\" title=\"Education Department reveals states with highest number of student loan borrowers for Biden's loan forgiveness plan.\">student\u200b loan \u200bforgiveness<\/a>. \u2062He argues that by persistently\u2063 pushing for costly student loan forgiveness despite\u200b the Supreme \u200bCourt&#8217;s \u200drejection, the administration is undermining the authority \u200cof the\u200b judiciary and disregarding the rule of law. Senator Cassidy asserts that\u2062 this behavior sets \u2064a dangerous\u2064 precedent, \u200cwhere the executive branch\u200b can bypass\u200d the judicial system and impose its own agenda without regard for legal limitations.<\/p>\n<p>Furthermore, Senator Cassidy notes the significant financial burden that\u200b the proposed student loan forgiveness regulation would place on taxpayers. He highlights that the majority of bachelor&#8217;s degree student\u200d loan borrowers would be \u2064eligible for reduced payments, with taxpayers subsidizing a considerable portion of the\u200b loan debt.\u2062 In light of \u200bthis, \u200cSenator\u200c Cassidy questions whether it is fair \u2062for taxpayers to bear \u2063the burden of student loan \u2064forgiveness, especially considering that many taxpayers did not have the opportunity to pursue higher education or acquire student\u2064 loan debt in the first place.<\/p>\n<p>Senator Cassidy concludes his op-ed by calling on the Biden administration to reconsider its approach to student loan forgiveness. He\u200d emphasizes the importance\u2064 of addressing the root causes of rising \u2064tuition costs and encourages the \u200dadministration to seek alternative\u200d solutions that\u2063 foster \u200ccompetition \u200dand transparency\u2063 in higher education. \u2063Senator \u200bCassidy \u2062maintains\u2063 that while\u200c addressing\u200c the \u2064issue of\u200c student loan debt is necessary, it should be done \u2063in a\u200b fair and responsible manner that takes \u2062into account the interests of all Americans.<\/p>\n<p>In summary, Senator Cassidy&#8217;s critique of the Biden administration&#8217;s persistent\u200d push for\u2064 a new and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bill-cassidy-blasts-latest-biden-administration-bid-to-forgive-student-loans\/\" title=\"Bill Cassidy criticizes Biden administration's attempt to forgive student loans.\">costly student loan\u2063 forgiveness regulation reflects<\/a> his concerns about\u2062 the potential \u2064negative implications,\u2063 the\u200b disregard for\u2063 the \u2063Supreme Court&#8217;s decision, and the financial \u200cburden it would place on taxpayers. His op-ed \u2062serves as a call to\u2064 reconsider the\u2062 approach to\u2064 student loan forgiveness \u2063and to \u2063pursue alternative solutions that address the root causes of rising tuition\u200d costs \u2062while being\u200b fair and \u200cresponsible to all Americans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sen. Bill Cassidy (R-LA) criticized the Biden administration for persistently advancing an expensive student loan forgiveness regulation, despite its rejection by the Supreme Court. As the ranking member on the Senate&#8217;s Health, Education, Labor, and Pensions committee, Cassidy expressed his concerns in a Washington Examiner op-ed.<\/p>\n","protected":false},"author":1,"featured_media":2049214,"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":[538],"tags":[],"class_list":["post-2049213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"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\/2049213","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2049213"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2049213\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2049214"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2049213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2049213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2049213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}