Ron DeSantis, President Joe Biden.Photo: Tristan Wheelock/Bloomberg/Getty Images; Kevin Dietsch/Getty
Twenty-two Republican governors have sent a letter to PresidentJoe Bidenon Monday urging him to withdraw hisstudent loan forgiveness plan.
“As governors, we support making higher education more affordable and accessible for students in our states, but we fundamentally oppose your plan to force American taxpayers to pay off the student loan debt of an elite few,” the letter wrote, adding that the cost of the plan will be “a price the people of our states cannot afford.”
The letter added, “Shifting the burden of debt from the wealthy to working Americans has a regressive impact that harms lower income families.”
“College may not be the right decision for every American, but for the students who took out loans, it was their decision: able adults and willing borrowers who knowingly agreed to the terms of the loan and consented to taking on debt in exchange for taking classes,” the governors continued.
“A high-cost degree is not the key to unlocking the American Dream — hard work and personal responsibility is,” the letter read. “For many borrowers, they worked hard, made sacrifices, and paid off their debt. For many others, they chose hard work and a paycheck rather than more school and a loan. Americans who did not choose to take out student loans themselves should certainly not be forced to pay for the student loans of others.”
“Even economists from your own party oppose your plan for raising demand and increasing inflation,” they claimed. “Rather than addressing the rising cost of tuition for higher education or working to lower interest rates for student loans, your plan kicks the can down the road and makes today’s problems worse for tomorrow’s students.”
The letter ended with the governors stating that Biden does not have the “authority to wield unilateral action to usher in a sweeping student loan cancellation plan.”
The governors involved in the writing of the letter signed their names below the text. The governors were Abbott, DeSantis,Kim Reynolds(Iowa), Doug Ducey (Arizona),Brian Kemp(Georgia),Mike Parson(Missouri),Chris Sununu(New Hampshire), Kevin Stitt (Oklahoma), Bill Lee (Tennessee), Mark Gordon (Wyoming),Kay Ivey(Alabama),Asa Hutchinson(Arkansas),Brad Little(Idaho),Greg Gianforte(Montana),Doug Burgum(North Dakota),Henry McMaster(South Carolina),Mike Dunleavy(Alaska),Larry Hogan(Maryland), Pete Ricketts (Nebraska),Mike DeWine(Ohio),Kristi Noem(South Dakota) andSpencer Cox(Utah).
RELATED VIDEO: Biden Administration Will Cancel Up to $20,000 in Student Debt for Borrowers Based on Income, Type of Grant
Last month, Biden announced that non-Pell Grant borrowers will have up to $10,000 in student loan debt canceled if they make less than $125,000 per year. Pell Grant recipients are eligible for up to $20,000 in cancellation if they meet the same income requirement.
Married couples must make less than $250,000 per year combined in order to qualify for loan forgiveness.
In announcing his plan, Biden also extended thestudent loan payment pauseone final time to last through the end of the year, sharing that borrowers should expect to resume payments in January 2023.
Ten to 20 grand is a far cry from the $50,000 in forgiveness — or total cancellation — that some had been pushing for, but a win for Americans nonetheless as millions havestruggled to pay billseven in light of the student loan pause that began in March 2020.
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Student loan forgiveness was a major talking point among Democrats in the 2020 presidential primary, and following through on some form of debt cancellation has been viewed as a critical step for Biden to take in helping invigorate young voters ahead of the midterms and keep Democrats in control of Congress.
Now, Democrats will have to wait and see whether Biden’s choice to only offer 10 or 20 thousand dollars of forgiveness — a number far below the national student debt average — will be enough to make a dent in voter turnout.
source: people.com
