Press Releases

The Biden administration’s student loan forgiveness agenda includes forcing taxpayers who never went to college to foot the bill. President Biden is recklessly pushing our economy towards a fiscal cliff—all to swindle more votes for the midterms and to save his failing presidency.

In Case you Missed It via Fox News, Rep. Virginia Foxx and Sen. Richard Burr, Republican Leaders on the House and Senate education committees, call out the Biden administration for sacrificing taxpayers to buy off progressives with another student loan repayment pause. 

Biden thinks student loan borrowers deserve a blank check from taxpayers
By Virginia Foxx (R-NC) and Senator Richard Burr (R-NC)
April 29, 2022

The Biden administration is trying once again to save its tanking poll numbers by writing a blank check to student loan borrowers using Americans’ pocketbooks. Nearly every pandemic relief program has expired as the economy... Yet, according to the President and Democrats in Congress, it is essential that taxpayers continue to fund the largest and most regressive transfer of wealth to the upper-class in modern history, to the tune of $5 billion every month. 

Since March 2020, no federal student loan borrower, regardless of income or ability to work, has been required to make a student loan payment—not a single penny in two years. These deferments were intended to be a safety net at the height of the pandemic. Two years later, the deferments have turned into a $150 billion spending spree predominately benefiting lawyers, doctors, and bankers who racked up their debt in graduate school. In fact, the repayment pause— which the White House sees as a shining achievement of its commitment to fairness and equity—provides bachelor’s degree holders a mere ten cents in relief for every dollar provided to doctors.
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Now, facing a stalled legislative agenda and an inflation crisis exacerbated by his administration’s disastrous policies, President Biden is doing what’s politically expedient and extending, for a second time, the “final extension” of the repayment pause and proposing to cancel tens of thousands of student loans for 44 million borrowers. By caving to progressives, he is breaking his promise to over 100 million taxpayers without student debt who are subsidizing this boondoggle.
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So why is President Biden doing this? Simply put, he is placing politics and poll numbers above his fiscal and moral responsibilities… Desperate times call for desperate measures, and Uncle Joe is banking on the Left’s ideologues to save Democrats from a disastrous midterm election, taxpayers be damned.

Read the full op-ed here.