Lafayette Reporter

Sen. John Kennedy (R-La.) and Sen. Bill Cassidy (R-La.), along with Rep. Virginia Foxx (R-N.C.) and other colleagues, have urged the Biden administration’s Department of Education (DOE) to withdraw a proposed rule that would transfer an additional $147 billion in student loan debt to American taxpayers. If enacted, this rule would increase the total debt transferred to Americans to approximately $1 trillion.

In April, the DOE published its proposed rule, intending to amend regulations in the Higher Education Act of 1965 and waive student loan debt for tens of millions of borrowers.

The lawmakers stated, “The Biden administration describes this regulation as ‘targeted relief,’ yet the Department’s own estimates show the opposite. This is even broader than the Department’s first attempt: at an estimated price tag of $147 billion, taxpayers are being forced to take on the debt of nearly 28 million borrowers.”

They also criticized what they saw as a fiscally irresponsible attempt by the administration to enact 'free' college through these measures, which they believe use borrowers as political pawns for illegal actions. They referenced a Supreme Court ruling from June that deemed mass write-offs of federal student loans unconstitutional.

Further concerns were raised about resources being dedicated to drafting a “Plan B” for cancelling student loans for those who have already attended college after “Plan A” failed in court. Meanwhile, no effort was made available for prospective students through Free Application for Federal Student Aid (FAFSA).

“Failure to make the FAFSA available to these prospective students on time will have life-long consequences for many young Americans," they wrote, citing a 40% decrease in FAFSA completion rates among high school seniors as of March 29.

In conclusion, the lawmakers urged the Biden administration to collaborate with Congress in addressing higher education financing issues.

The letter was also signed by more than 90 members of Congress including Sens. John Barrasso (R-Wyo.), Marsha Blackburn (R-Tenn.), Katie Britt (R-Ala.), Mike Braun (R-Ind.), Ted Budd (R-N.C.), Shelley Moore Capito (R-W.Va.), John Cornyn (R-Texas), Tom Cotton (R-Ark.), Mike Crapo (R-Idaho), Kevin Cramer (R-N.D.), Ted Cruz (R-Texas), Steve Daines (R-Mont.), Joni Ernst (R-Iowa), Deb Fischer (R-Neb.), Lindsey Graham (R-S.C.), Chuck Grassley (R-Iowa), Josh Hawley (R-Mo.), John Hoeven (R-N.D.), Cindy Hyde-Smith (R-Miss.) and others.

The full text of the letter is available here.