by BoatSurfer600
via forbes:
House Republicans just approved a plan to repeal key Biden student debt relief initiatives. Advocacy groups are warning that if the plan is ultimately enacted, millions of borrowers could have their student loan forgiveness credit voided. And thousands who already received loan forgiveness could have their discharged debts reinstated.
Biden has promised to veto the measure. But his administration’s student debt relief initiatives remain under attack.
Here’s the latest.
House Republicans Approve Resolution Nullifying Biden’s Student Loan Forgiveness Plan And Student Loan Pause Extension
House Republicans on Wednesday approved a Congressional Review Act resolution nullifying two key Biden administration student debt relief initiatives. This includes President Biden’s unprecedented one-time student loan forgiveness plan, which — if allowed to proceed — would provide tens of millions of borrowers with $10,000 or $20,000 in one-time debt relief. That plan has been held up for months in a drawn-out legal battle, which is now before the Supreme Court. The GOP-led resolution would also repeal Biden’s most recent extension of the student loan pause, which has suspended most federal student loan payments and interest through this summer.
“President Biden’s so-called student loan forgiveness programs do not make the debt go away, but merely transfer the costs from student loan borrowers onto taxpayers,” said Rep. Bob Good (R-Va.), one of the lead cosponsors of the repeal effort, in a statement in March when the initiative was first unveiled by Republican leaders. “Congress should stop these unilateral actions, and I am proud to lead the fight in the House to hold President Biden accountable for his reckless, unfair, and unlawful student loan proposal.”