The Biden administration is pursuing reckless student loan policies that are costing taxpayers BILLIONS. From student loan pauses that benefit doctors and lawyers to letting defaulted borrowers take on even more debt, Biden’s policies are harmful and:
- Unfair to taxpayers, including the 100 million Americans who never went to college.
- Unfair to Americans already struggling to put food on the table due to Biden inflation.
- Unfair to future students who will bear the burden of ballooning college costs.
DEAR AMERICA: STOP BIDEN'S STUDENT LOAN FORGIVENESS SCAM
Fact Sheets:
Press Releases:
- ICYMI: Biden Lacks Legal Rationale to Push Student Loan Scheme, Says Chairwoman Foxx February 10, 2023
- Foxx, Cassidy Call Out Administration's Potential $1 Trillion Student Loan Repayment Scheme, Rushed Public Review Process February 3, 2023
- Biden Uses IDR as Backdoor to Free College January 10, 2023
- Foxx Calls Out College for Misleading Students about Cost of College December 21, 2022
- Foxx on AEI's Podcast Talks Biden Bailout and GOP Solutions December 20, 2022
- President Biden is Sinking the Federal Student Loan System December 13, 2022
- Foxx: Biden's Student Loan Bailout Gets Impaled Yet Again December 1, 2022
- A Degree: No Longer Required! November 29, 2022
- ICYMI: "Biden's Eternal Emergency November 28, 2022
- Biden's Student Loan Repayment Pause is Fiscal Insanity November 22, 2022
- Foxx, Smith Demand Answers on Biden's Student Loan Giveaway to the Wealthy November 17, 2022
- Foxx Lauds New Ruling Against Biden's Student Loan Bailout November 10, 2022
- Foxx Statement on Student Loan Rulings October 20, 2022
- Foxx Supports Legal Challenge to Biden's Student Loan Debt Scheme September 27, 2022
- Foxx: Mr. President, You're Burying Taxpayers Alive September 26, 2022
- Foxx & Comer Investigate Whether Biden Administration Officials Working on Student Loan Bailout Stand to Benefit Financially September 15, 2022
- Democrats Oppose @EdLaborGOP Efforts to Demand Transparency from Biden on Student Loan Bailout and School Closures September 15, 2022
- @EdLaborGOP Demand Answers on Biden's Student Loan Debt Scheme and School Shutdowns September 15, 2022
- Is a College Degree Worth the Cost? September 8, 2022
- @EdLaborGOP: Chairman Scott, We Must Conduct Oversight on Student Loans September 7, 2022
- @EdLaborGOP Have Solutions for Exploding College Costs September 7, 2022
- Foxx: The American People Deserve Better August 29, 2022
- Foxx Discusses Biden’s Student Loan Cancellation Fiasco on Fox Business August 26, 2022
- Biden Administration Cancels Debt for Wealthy Borrowers at More Than $330 Billion Cost to American Taxpayers August 24, 2022
- Foxx Condemns Biden’s Reckless Student Loan Schemes August 24, 2022
- Higher Education Must Adapt or Face Continued Decline August 19, 2022
- Operation Fresh Start is Rotten Policy August 17, 2022
- Foxx to ED: You Don’t Have the Authority August 15, 2022
- Foxx, Stefanik, Banks Announce Responsible Alternative to Biden’s Blanket Student Loan Scheme August 4, 2022
- Government Watchdog Finds $311 Billion Budget Error at Department of Education July 29, 2022
- Where's Your Money? July 27, 2022
- Democrats are Sidestepping Important Conversations on Student Loans July 19, 2022
- Biden Buries the Lede on Student Loan Forgiveness July 12, 2022
- Foxx Reacts to Biden’s Disastrous Federal Student Loan Regulations July 6, 2022
- Foxx, Burr Demand Clarity on Biden’s Statutory Authority on Student Loan Repayment Freeze, Forgiveness June 15, 2022
- Foxx, Comer Raise Ethical Concerns About Indebted Biden Administration Officials Working on Student Loan Forgiveness June 15, 2022
- Foxx Speaks Against Biden’s Retroactive Free College Scheme June 7, 2022
- Foxx: Biden's Loan Forgiveness Scheme Fails on All Counts June 2, 2022
- Democrats Question Legality of Biden’s Mass Student Loan Forgiveness Scheme May 6, 2022
- Foxx on Biden’s Endless Student Loan Forgiveness Façade April 28, 2022
- Foxx: The Education Department Continues Its COVID Masquerade April 19, 2022
- What They're Saying: Biden’s Irresponsible Student Loan Pause April 7, 2022
- Biden Sends Wrong Message to Student Loan Borrowers April 6, 2022
- Foxx Reacts to Reports of Another Student Loan Repayment Pause April 5, 2022
- Foxx Reacts to Biden’s Student Loan Servicing Plans February 24, 2022
- Biden’s Reckless Policy will Exacerbate Student Loan Disaster January 21, 2022
- Borrowers, Taxpayers, and Servicers are Suffering from President Biden’s Negligent Disregard on Student Loan Repayments January 20, 2022
- Foxx: Democrats Are Up to Their Radical Student Loan Forgiveness Schemes Again December 22, 2021
- Foxx Reacts to Biden’s Plan to Terminate Contracts with PCAs November 4, 2021
- Rep. Murphy Demands FSA Focus on Student Borrowers Instead of Progressive Priorities October 27, 2021
- Foxx Reacts to Democrats' PSLF Scheme October 6, 2021
- Foxx, Murphy on Ed Department’s PSLF Overhaul: “Abuse of executive authority” October 5, 2021
- Foxx on Leaked Government Overhaul of PSLF October 1, 2021
- Foxx on Navient Ending Federal Loan Servicing Contract September 28, 2021
- Foxx, Burr Demand Answers on ED’s Repayment Plan September 28, 2021
- Foxx: Education Department Abandons Student Loan Responsibility August 24, 2021
- Foxx on Student Loan Servicing Preemption August 9, 2021
- Foxx on Student Loan Repayment Delay August 6, 2021
- Murphy: HEA Reform Needed to Set Low-Income Families Up for Success July 29, 2021
- Foxx Statement on FSA Vendor Memo May 28, 2021
- Foxx Reacts to Cordray Heading FSA May 3, 2021
Blogs & Op-Eds:
- Fact Checking Biden's Student Loan Bailout February 28, 2023
- Biden's Student Loan Scam February 27, 2023
- Biden is Using Your Money for Mass Loan Cancelation December 5, 2022
- Seven Reasons Not to Extend the Student Loan Pause November 21, 2022
- Fraudsters Set to Rob the American People, With Biden's Blessing November 1, 2022
- Biden Claims to Put People Over Politics. Start Acting Like It October 21, 2022
- Biden Declares "Pandemic is Over" But Still Pushes Illegal Student Loan Bailout September 28, 2022
- Foxx Shares a Conservative Vision for Education After High School September 14, 2022
- Republicans Have Solutions for the Student Loan Crisis August 23, 2022
- The $311 Billion Problem August 24, 2022
- More Pauses Means Taxpayers Suffer August 23, 2022
- Republicans Offer REAL Reforms, Challenge Biden’s Student Loan Scheme August 10, 2022
- What They’re Saying: The Education Department’s $311 Billion Budget Blunder August 3, 2022
- The Education Department’s $311 Billion Budget Mistake August 1, 2022
- Student loan forgiveness scam is already Biden policy June 24, 2022
- Student Loan Forgiveness Makes My Grandson a Chump June 8, 2022
- Fact Check: Student Loan Forgiveness Will Worsen Inflation June 7, 2022
- Foxx Op-Ed: Biden thinks student loan borrowers deserve a blank check from taxpayers May 2, 2022
- Biden’s Repayment Scam April 11, 2022
- @EdLaborGOP’s Advice to Biden Ahead of SOTU March 1, 2022
- What You Need to Know: Democrats’ Socialist Spending Spree November 5, 2021
- FSA's Cordray is Exacerbating the Student Loan Crisis October 27, 2022
- Quick Take: Federal Takeover of Higher Education September 10, 2021
- ICYMI: Foxx Joins ABC News to Talk Student Loans July 29, 2021
Oversight:
- Foxx, Duncan Lead Amicus Brief on Biden's Student Loan Scheme February 3, 2023
- Foxx Challenges Biden's Authority, Ability to Enact Blanket Student Loan Forgiveness June 8, 2022
- Foxx, McHenry Question CFPB, FSA Heads About Collusion on Student Loans April 14, 2022
- Cardona is Hiding the True Cost of Student Loans January 12, 2022
- Foxx, Burr Demand Answers from Biden Admin on Changes to Public Service Loan Forgiveness January 6, 2022
- Foxx, Letlow: Cutting PCAs Out of the Student Loan Business Will Cause Chaos and Hurt Borrowers December 16, 2021
- Foxx, Grothman Pressure Education Department on Overdue Student Loan Report October 7, 2021
- Foxx Urges Committee Dems to Hold PSLF Oversight Hearing October 6, 2021
- Foxx, Murphy on Ed Department’s PSLF Overhaul: “Abuse of executive authority” October 5, 2021
- Foxx, Burr Demand Clarity on Admin’s Student Loan Repayment Plan July 29, 2021
- Foxx Presses Cardona (Again) on Student Loan Servicing Contracts July 23, 2021
- Foxx Presses Education Department on PHEAA Transition Plan July 12, 2021
- Foxx, Burr Call on Secretary Cardona to Create Reactivation Plan for Student Loan Payments Following COVID-19 Repayment Freeze June 2, 2021
- Foxx, Murphy Request GAO Examine Student Loan Budget Projections May 6, 2021
- Foxx, Bost Slam Cardona for Withholding Report on Student Loan Budget Projections April 30, 2021
In the News:
- Washington Times: Justices block Biden's debt plan at least through February December 1, 2022
- Wall Street Journal: Supreme Court to Decide Whether Biden Administration Can Provide Mass Student-Loan Forgiveness December 1, 2022
- NPR: Legal losses keep coming for Biden's student loan relief plan December 1, 2022
- Fox News: Biden's student loan bailout died in the courts, but taxpayers could still be forced to pay the tab November 29, 2022
- Joe Biden's immoral, sleazy vote-buying student debt forgiveness scheme October 19, 2022
- Fox News: Former Clinton adviser slams Biden's student loan debt handout: 'This is terrible policy' August 28, 2022
- The Hill: White House faces legal questions with student loan forgiveness plan August 28, 2022
- USA Today: White House pegs student loan plan's cost at $240 billion. Experts say it will be twice that. August 26, 2022
- Fox News: White House silent on whether tax increases are necessary to pay for $300,000,000,000 student loan handout August 26, 2022
- Higher Ed Dive: Is Biden’s student debt cancellation a moral hazard? August 26, 2022
- Washington Times: Biden’s student debt forgiveness plan unfair to the average worker August 25, 2022
- NTD: Rep. Foxx on Biden Allocating Tax Money to Pay Student Debt August 25, 2022
- Boston Herald: Graham: What you need to know about the college debt bailout plan August 25, 2022
- Times Higher Education: Biden slashes $300 billion in student debt August 25, 2022
- Inside Higher Ed: Inside Biden’s Debt Relief Plan August 25, 2022
- USA Today: 'Debt and no degree': Biden cancels as much as $20K in student loan debt: Recap August 25, 2022
- Epoch Times: Democrats Grasping At Straws for Votes by Canceling Student Loan Debt: GOP Lawmaker August 25, 2022
- National Review: Majority of White House Staffers Eligible for Biden’s Student-Loan ‘Forgiveness’ August 24, 2022
- Washington Examiner: 'Student loan socialism': Biden's debt cancellation panned as unfair handout to the elite August 24, 2022
- Newsmax: McConnell: Student Loan Forgiveness 'a Slap in the Face' August 24, 2022
- New York Post: Biden announces student loan debt giveaway for up to 20M as GOP, experts warn of economic disaster August 24, 2022
- Business Insider: Mitch McConnell joins Republicans in railing against Biden's 'cynical and outrageous' student-loan forgiveness plan: 'This policy is astonishingly unfair' August 24, 2022
- Higher Ed Dive: Biden cancels $10,000 in student loan debt for those earning up to $125,000 a year August 25, 2022
- NPR: Biden is canceling up to $10K in student loans, $20K for Pell Grant recipients August 24, 2022
- Washington Post: Biden to cancel up to $10,000 in student loans, $20K for Pell recipients August 24, 2022
- NBC News: Democrats cheer Biden's student loan relief plan as Republicans call it 'unfair' August 24, 2022
- CNBC: 'A stay-in-debt-forever scheme': Student loan debt-collection system is too harsh, Education Department official says August 10, 2022
- Forbes: As Biden Appears Likely To Extend Student Loan Pause, Republicans File Bill To Restart Payments August 9, 2022
- NBC News: Borrowers, lenders left in limbo as deadline to extend student loan payment pause nears August 8, 2022
- Forbes: Student Loan Forgiveness: 5 Major Takeaways From New Plan To Cancel Student Debt August 7, 2022
- Forbes: Republicans Propose To End Student Loan Forgiveness August 6, 2022
- Higher Ed Dive: Republicans push alternative to Biden's student loan forgiveness plans August 5, 2022
- Inside Higher Ed: The Republican Alternative August 5, 2022
- Forbes: Student Loan Forgiveness: New Blockbuster Plan to Cancel Student Loans August 5, 2022
- Business Insider: 3 Republican lawmakers just countered Biden's student-loan-forgiveness plans with a bill of their own to help borrowers 'most in need' August 4, 2022
- Washington Free Beacon: Forget Forgiveness: Republicans Propose Alternative Student Loan Relief August 4, 2022
- Washington Examiner: Republicans unveil student loan reform bill to counter calls for forgiveness August 4, 2022
- Business Insider: The government is losing money on federal student loans, not profiting like it predicted, a watchdog finds August 2, 2022
- CNBC: The federal government had expected $114 billion income on student loans. But it could lose $197, watchdog finds August 1, 2022
- Daily Signal: Whoops! Department of Education Makes $300 Billion Accounting Mistake on Student Loans August 1, 2022
- Forbes: Bombshell Report Reveals Student Loans Cost More Than Anyone Thought August 1, 2022
- Forbes: Student Loans Will Cost Government $200 Billion Losses, Shocking Report Says July 31, 2022
- Inside Higher Ed: The True Cost of Federal Student Loans July 31, 2022
- The Wall Street Journal: Federal Student-Loan Program Cost Estimate Was Off By $311 Billion, Government Watchdog Says July 29, 2022
- Fox News: Federal student loan program cost underestimated by $311B, government watchdog says July 29, 2022
- Washington Examiner: Department of Education miscalculated student loan spending by $311B: Watchdog July 29, 2022
- Newsmax: Watchdog: Department of Education Miscalculated Student Loan Spending by $311B July 29, 2022
- Higher Ed Dive: Direct student loans cost $311B more than Education Department's estimates, federal watchdog says July 29, 2022
- Fox News: Student loan forgiveness scam is already Biden policy June 27, 2022
- Politico: Unions lobby Biden for bolder approach to student debt relief June 6, 2022
- Fortune: The 'riskiest' federal student loans have been left out of forgiveness debate June 3, 2022
- Fox News: Biden's student loan debt forgiveness is 'regressive and a mistake:' Former education secretary Bill Bennett June 2, 2022
- Business Insider: Many parents spend more years paying off student debt for their kids than they do raising them, new report finds June 1, 2022
- The New York Times: They Got the Debt, but Not the Degree June 1, 2022
- The Hill: Biden’s plan to ‘cancel’ student debt passes the buck to all taxpayers June 1, 2022
- Inside Higher Ed: Credential Train Is Leaving the Station—Get on Board May 25, 2022
- Los Angeles Times: Q&A: Student loan forgiveness: Why $10,000 might be better for the economy than $50,000 May 24, 2022
- CBS News: Many graduate programs are "scams," according to higher education policy analyst May 23, 2022
- The Buckeye Institute: Student loan forgiveness would take from 'working poor' give to 'bookish rich' May 23, 2022
- NBC News: Why income caps for student loan forgiveness would be a disaster May 21, 2022
- Forbes: Dave Ramsey: Student Loans Are “Horrible” And “Evil” May 20, 2022
- The New York Times: Student Debt Is Crushing. Canceling It for Everyone Is Still a Bad Idea. May 14, 2022
- CNBC: Op-ed: That college degree is no longer the only path to achieving the American Dream May 12, 2022
- AEI: Student Loan Cancellation Will Backfire Without Additional Reform May 10, 2022
- The Washington Post: Opinion | The Biden administration has a fan-service problem May 2, 2022
- CBS News: Biden plan to cancel student loans is bad policy, critics say May 6, 2022
- The New York Times: To Tackle Student Debt, Fix Ineffective Colleges April 29, 2022
- New York Post: Biden's bribe to the affluent: student loan forgiveness April 24, 2022
- New York Post: With student-loan freeze, Biden subsidizes the rich to appease The Squad April 8, 2022
- National Review: Student-Loan Forgiveness Enriches the Rich March 31, 2022
- Inc.: Employers Are Finally Rethinking Requiring Unnecessary College Degrees. Thank the Pandemic February 16, 2022
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- The Brookings Institute: Putting student loan forgiveness in perspective: How costly is it and who benefits? February 12, 2021
Expert Opinions:
- Lawrence H. Summers, Secretary of the Treasury for President Clinton and Director of NEC for President Obama: “The Administration's postponement yet again of student debt payments is very hard to understand on policy terms. Wherever one stands on student debt relief this approach is regressive, uncertainty creating, untargeted and inappropriate at a time when the economy is overheated.”
- Committee for a Responsible Federal Budget: “Continuing the current payment pause would be even more regressive, benefiting high-debt, high-income borrowers significantly more than low-debt borrowers. It has already cost the federal government over $100 billion and would cost another $50 billion per year to continue. If the payment pause is continued through the summer, it will have cost half as much as forgiving $10,000 per borrower outright. At the same time, it will worsen inflation.”
- Preston Cooper, Research Fellow at the Foundation for Research on Equal Opportunity: “If the White House believes most borrowers are not in a strong enough financial position to repay their loans, it should also produce a serious plan to curtail new lending.”
- Marc Goldwein, Senior Vice President and Senior Policy Director, Committee for a Responsible Federal Budget: “The government has already cancelled $50,000 of student debt...for doctors. Lawyers got $30,000 of debt cancelled. The student debt pause is highly regressive.”
- Beth Akers, Resident Scholar at the American Enterprise Institute: “This may or may not prove to be good politics for Biden. But it is undoubtedly bad policy.”
- Neal McCluskey, Director of the Center for Educational Freedom at the Cato Institute: “There is no economic excuse to extend the student debt freeze. College grads weathered COVID better than anyone else, we now have near record-low unemployment, and inflation is worse with more dollars in the economy. It’s time to repay taxpayers.”
- Jason Delisle, Senior Policy Fellow at the Urban Institute: “I think this makes student loan pause the longest lasting pandemic policy for households. Outlives stimulus checks, higher UI benefits, child tax credits. Perversely, it's the only one of these with absolutely no means test or income limit. Right? Strange policy priority IMO.”
- Cory Turner, Education Correspondent, NPR: “Also just gonna point out, as a reporter who covers ED: All these leaks are coming from the WH, not ED. Meaning, each of these extensions is more inextricably intertwined with politics than the last one.”
- The Editorial Board, The Wall Street Journal: “You can never go broke betting on Washington cynicism, and the Administration’s latest extension timeline suggests a political calculation. Could it be teeing up even more sweeping loan forgiveness, to be announced in August as the new school year and the fall election campaign begin?”
- Douglas Holtz-Eakin, President, American Action Forum: “More deferral might also just be a mistake. It could be electoral pandering. It may satisfy some intraparty politics. But none of those things makes it defensible or a good idea.”
- The Editorial Board, The New York Times: “Canceling [student] debt, even in the limited amounts that the White House is considering, would set a bad precedent and do nothing to change the fact that future students will graduate with yet more debt — along with the blind hope of another, future amnesty. Such a move is legally dubious, economically unsound, politically fraught and educationally problematic.”
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