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Biden Uses IDR as Backdoor to Free College

Today, Education and the Workforce Committee Chairwoman Virginia Foxx (R-NC) released the following statement after the Biden administration announced new proposed regulations to Income-Driven Repayment (IDR) plans that will drastically shift the responsibility of student loan debt from borrowers to taxpayers:
“Today’s announcement is a repeat of the same playbook that got us into this college affordability crises in the first place. Because President Biden couldn’t get his radical free college agenda through Congress, he has resorted to doing it through the backdoor by executive fiat.”
“Expansions of already generous repayment options, institutional shame lists, and other failed policies of the past won’t lower the cost of college for students and families. It does, however, turn the federal loan program into an untargeted grant with complete disregard for the taxpayers that fund it.”
“Without real, comprehensive reform to our postsecondary financing and accountability systems, we will be left with ineffective and expensive policies by an administration dead set on bankrupting our country.”

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