Gov. Noem and Colleagues Oppose Student Debt Forgiveness Plan
PIERRE, S.D. – Today, Governor Kristi Noem and 21 of her fellow Republican governors sent a letter to President Biden saying they oppose his plan to forgive students their federal loans, saying that debt would then have to be paid for by taxpayers. You can read the letter here.
“Only 16-17 percent of Americans have federal student loan debt, and yet, your plan will require their debts to be redistributed and paid by the vast majority of taxpayers,” wrote Governor Noem and her colleagues. “Shifting the burden of the debt from the wealthy to the working Americans has a regressive impact that harms lower income families.”
The governors in their letter questioned whether the President had the actual authority to forgive such loans. They also said the President’s plan is bad economic policy given the current high rate of inflation and that it also takes away the need for personal responsibility.
“College may not be the right decision for every American, but for the students who took out the loans, it was their decisions: 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,” continued Governor Noem and the other Governors. “A high-cost degree is not the key to unlocking the American Dream – hard work and personal responsibility is.”
Governor Noem was joined by the following Republican governors in issuing the statement: Iowa Governor, Kim Reynolds, Alabama Governor Kay Ivey, Alaska Governor Mike Dunleavy, Arizona Governor Doug Ducey, Arkansas Governor Asa Hutchinson, Florida Governor Ron DeSantis, Georgia Governor Brian Kemp, Idaho Governor Brad Little, Maryland Governor Larry Hogan, Missouri Governor Mike Parson, Montana Governor Greg Gianforte, Nebraska Governor Pete Ricketts, New Hampshire Governor Chris Sununu, North Dakota Governor Doug Burgum, Ohio Governor Mike DeWine, Oklahoma Governor Kevin Stitt, South Carolina Governor Henry McMaster, Tennessee Governor Bill Lee, Texas Governor Greg Abbott, Utah Governor Spencer Cox, and Wyoming Governor Mark Gordon.