Critics argue that the move could cause a sudden unplanned shock to borrowers already struggling financially.
"I am pleased to lead the House effort to overturn President Biden's student loan transfer scheme that would burden the wallets of hardworking American taxpayers to the tune of hundreds of billions of dollars," Representative Bob Good, a Virginia Republican who sponsored the resolution, toldin a statement."His plan to force American citizens to pay off the debts of others is unfair, unethical, unconstitutional and unlawful.
Student loan borrowers stage a sit-in on Capitol Hill at the office of House Speaker Kevin McCarthy to urge him to stop trying to block student debt cancellation on May 9, 2023, in Washington, D.C. On May 10, the Republican-controlled House Education and the Workforce Committee advanced a resolution to invoke its authority under the Congressional Review Act to kill President Joe Biden's attempt to cancel hundreds of billions of dollars in student loan debt.
However, efforts to invoke the CRA are rarely successful—succeeding just 20 times since it was created in 1996—and would still be subject to a presidential veto. The U.S. Department of Education has criticized Republican efforts to invoke the CRA, saying in a previous statement that such a move would hurt low- and medium-income wage earners who were already struggling financially.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
27,000 Ohioans approved for nearly $1.7B in public service student loan forgiveness: How to applyPublic service student loan forgiveness is for employees in federal, state, local or tribal government, or employees of nonprofit organizations. Those interested can apply at the Department of Education’s Federal Student Aid Office website.
Weiterlesen »
Northwestern student government freezes College Republicans funding over poster critical of LGBTQ communityStudent government at Northwestern University voted to pull funding from the College Republicans in response to posters that superimposed a poison symbol over an LGBT flag.
Weiterlesen »
Scammers cheated student-loan borrowers out of $12 million: FTCA group of scammers cheated student-loan borrowers out of $12 million by misleading them about repayment programs and 'loan forgiveness that did not exist,' a federal watchdog says
Weiterlesen »
What to know about public service student loan forgivenessThe U.S. has approved more than $42 billion in federal student loan debt forgiveness for more than 615,000 borrowers in the past 18 months as part of a program aimed at getting more people to work in public service jobs, the U.S. Department of Education said this week. The Public Service Loan Forgiveness program is open to teachers, librarians, nurses, public interest lawyers, military members and other public workers. It cancels a borrower’s remaining student debt after 10 years of public interest work, or 120 monthly payments.
Weiterlesen »
Biden to hammer Republican budget cuts which target his student loan forgiveness plans | CNN PoliticsWhen President Joe Biden speaks at a community college in New York on Wednesday, he's expected to hit Republicans hard for budget cuts they are demanding as part of their bill to raise the debt ceiling.
Weiterlesen »
What to know about public service student loan forgiveness - New York Amsterdam NewsThe U.S. has approved more than $42 billion in federal student loan debt forgiveness for more than 615,000 borrowers in the past 18 months as part of a program aimed at getting more people to work in public service jobs, the U.S. Department of Education said this week.
Weiterlesen »