Biden’s Student Loan Scheme: Breaking Down the Costs of the President’s Loan ‘Forgiveness’ Plans

Biden's Student Loan Scheme: Breaking Down the Costs of the President's Loan 'Forgiveness' Plans

WASHINGTON, D.C. - President Biden pledged to cancel student loan debts for millions of Americans during his campaign for President. Since taking office, his Administration has made several attempts to ram through legally questionable policies, trying to spend an unprecedented $1 trillion on student loan "forgiveness."

The Biden Administration's unilateral actions have been numerous and far-reaching. The House Budget Committee continues to Sound the Alarm and uncover the full scope of Biden's student loan scheme. To do so, we need to count the cost of his Administration's plans, understand how his scheme punishes working-class taxpayers, and address how his misguided initiatives only incentivize skyrocketing tuition.

Below are the facts and timeline of Biden's student loan scheme:

The Bottom Line:

In stark contrast, the House Budget Committee's FY 2025 "Reverse the Curse" Budget Resolution protects taxpayer dollars by ending current and future student loan bailouts.

House Budget Committee Republicans will continue to Sound the Alarm on Biden's relentless student loan debt cancellation plans and provide necessary oversightof the Biden Administration.

Click HERE for Chairman Arrington's statement when President Biden announced this student loan scheme.

Click HERE for Chairman Arrington's statement when the Department of Education released its first set of draft rules for President Biden's next attempt to cancel student loan debt.

Click HERE to read about FAFSA Fumbles.

Click HERE to read about Penn Wharton's analysis of President Biden's student loan bailouts.

Click HERE for the combined set of documents breaking down the costs of the President's loan 'forgiveness' plans.

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