Crapo, Risch Fight Unfair Student Loan Cancellation Scheme

Washington, D.C.--U.S. Senators Mike Crapo and Jim Risch (both R-Idaho) today voted on their congressional resolution to overturn President Biden’s unfair student loan cancellation scheme.

“Idahoans who went to work instead of attending college, or who already paid off their student loan debt, should not have to foot the bill for President Biden’s student loan forgiveness plan,” said Crapo.  “Placing the burden of our nation’s outstanding student loan debt on taxpayers is irresponsible, unaffordable and does nothing to address the underlying issue, which is the exorbitant cost of tuition.”

“President Biden’s student loan forgiveness is raising the cost of higher education and transferring the debt to every taxpayer, including Idahoans who paid off their student loans or never had them in the first place,” said Risch. “This so-called forgiveness must be canceled.”

Background

In March, Senators Crapo, Risch, Bill Cassidy, M.D. (R-Louisiana), John Cornyn (R-Texas), Joni Ernst (R-Iowa) and 35 other Republican colleagues introduced a Congressional Review Act resolution to overturn the cancellation scheme, which would transfer up to $20,000 in student loan debt per borrow onto taxpayers.  The estimated cost is $400 billion.

Earlier this year, the Supreme Court heard oral arguments in the cases  Biden v. Nebraska and  Department of Education v. Brown on whether the student loan cancellation program violates President Biden’s executive authority under the Constitution.  The Supreme Court is expected to issue an opinion on the policy this summer.

On February 7 ^th, Crapo and Risch  joined 41 other Senators in filing an amicus brief to the Supreme Court challenging the Biden Administration’s student loan cancelation program, which they say circumvents the authority of Congress.

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