Crapo Statement on Biden $300 Billion Student Loan Plan

Twin Falls, Idaho - U.S. Senator Mike Crapo (R-Idaho) issued the following statement in response to President Joe Biden's $300 billion student loan plan:

“The current higher education system warrants careful review as rising tuition costs and the amount of loans disbursed for education continue to saddle students and graduates with financial difficulties.  But placing the burden of our nation’s outstanding student loan debt on taxpayers is both irresponsible and unaffordable as we continue to grapple with already record-high inflation.  The Penn-Wharton Budget Model estimates this cancellation will cost taxpayers $300 billion, and those in the top 60 percent income bracket will see the largest share of the benefit.  Broad student loan debt cancellation does nothing to address the underlying issue of the exorbitant costs of tuition, which will only balloon even further.”

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