Biden’s Unconstitutional Student Loan Bailout Faces Another Obstacle

Biden’s Student Loan Forgiveness Plan Faces Resistance from Congressional Republicans

President Joe Biden’s push for a $400 billion student debt relief transfer may face yet another obstacle — Republican members of Congress. They are looking to revoke the student loans cancellation plan as well as the payment pause that he extended through August-end, claiming they are one-sided, unlawful and unwise.

Several GOP lawmakers have voiced their opposition to the student loan plan. Senator Bill Cassidy (R-LA), stated that the President is not forgiving the debt, but shifting the burden from borrowers onto those who chose not to attend college or have already repaid their loans. According to Cassidy, it’s unjust to force these Americans to pay for the student loan programs’ irresponsible and unfair practices.

Biden announced in August an unambiguous approach to alleviate the burden of student loan debt, fulfilling his electoral promise and rallying young voters. However, the student loans plan has since encountered problems, leaving it in legal, legislative and now Congressional limbo, as both parties point fingers at each other.

Approximately seven lawsuits were filed in the weeks following the announcement, making various claims that the plan was illegal. A judge blocked the plan two days after Election Day, with accusations that the Biden administration misled 43 million borrowers, knowing they would never have to follow through on their promise.

With full cancellation now appearing unlikely, efforts have emerged to tackle the repayment pause. The pause alone is expected to cost taxpayers $195 billion before it expires. Student loans refinancer SoFi Bank has sued the Biden administration, seeking to end the payment pause. Congressional Republicans, ten days later, indicated their intention to do the same.

Chairwoman of Education and Workforce Committee, Rep. Virginia Foxx (R-NC), stated that President Biden’s unlawful and one-sided actions destabilized their higher education system, increased prices for students, and cost taxpayers almost $1 trillion for a radical, free college agenda. Polls show that the public is almost equally divided on the issue as its political leaders, as per NBC News exit polls, finding that 50% approved of the plan, and 47% disapproved.