Thune Statement on Supreme Court Striking Down President Biden’s Student Loan Scheme
“Instead of putting together a real plan to lower the costs of higher education, President Biden put forward an unserious scheme to force 87 percent of Americans who do not have student loan debt to bear the costs of the 13 percent of Americans who do.”
WASHINGTON — U.S. Sen. John Thune (R-S.D.) today issued the following statement regarding the Supreme Court’s decision in Biden v. Nebraska, which struck down President Biden’s reckless and costly student loan bailout executive order:
“Not only was President Biden’s budget-busting student loan bailout fundamentally unfair, now it has been found unconstitutional,” said Thune. “Instead of putting together a real plan to lower the costs of higher education, President Biden put forward an unserious scheme to force 87 percent of Americans who do not have student loan debt to bear the costs of the 13 percent of Americans who do. Anyone frustrated by today’s decision should direct their complaints to the White House, where they knew this executive order would likely be struck down by the courts but did nothing whatsoever to meaningfully address exorbitant costs in higher education.”
Last week, Thune spoke about this issue at the weekly Senate Republican leadership press conference.
Earlier this month, Thune and Sens. Bill Cassidy, M.D. (R-La.) and Shelley Moore Capito (R-W.Va.) urged U.S. Department of Education Secretary Miguel Cardona to abandon the agency’s costly student loan forgiveness efforts and instead focus on preparing borrowers and loan servicers to resume student loan repayments. The senators’ letter also requests information regarding how much staff time and taxpayer dollars have gone toward setting up and carrying out the Biden administration’s student loan agenda.
In February, Thune and Sen. Bill Cassidy, M.D. (R-La.) reintroduced the Stop Reckless Student Loan Actions Act. The legislation would have ended President Biden’s untargeted, budget-busting suspension of repayments on qualifying federal student loans. The bill also would have still allowed the president to temporarily suspend repayment for certain low- and middle-income borrowers, as well as members of the armed forces during a time of war or national emergency. The bill would have also prohibited the president from cancelling outstanding federal student loan obligations due to a national emergency.
Thune has led common-sense measures to address the problem of student debt. In December 2020, Congress passed a five-year version of legislation Thune introduced with Sen. Mark Warner (D-Va.) to allow employers to help employees repay their loans. Thune and Warner’s Employer Participation in Repayment Act amends the Educational Assistance Program to permit employers to make tax-free payments on their employees’ student loans.
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Billions of dollars in Covid loans were forgiven not to mention the corruption but a $10,000 student loan must be repaid. Equal treatment???
Jad, Two wrongs do not make a right.
Correct, the PPP was nothing but a scam to shuffle public funds to the 1%, whereas the student loan forgiveness could’ve actually had a positive impact in middle America.
Making the taxpayers payoff the student loans (it would not be forgiveness) would be horribly unfair, and it would continue to drive up educational expenses. It would be wrong in every way!
Jad–The people who received the forgivable Covid Loans were, for the most part, hard working business people, the risk takers in our society, whose businesses were closed or adversely curtailed by reckless and arbitrary Government mandates. College students, who contribute nothing to our society and who often ignore the laws and traditions of our country, do not deserve any consideration.
put that on a tee shirt and wear it, so the doctor paying off hundreds of thousands of school loan dollars can read it while he’s treating your emergency needs.
That’s a nice big ol false generalization if I’ve ever seen one. Gotta be a troll to type something that dumb
that is true. The people who can’t pay off their student loans are the ones who borrowed way too much money and did not acquire marketable skills. That does not include physicians and other professionals who actually know how to do things. The example of physicians is a good one. They can run up a lot of debt, make their own payments, and then they can pay a lot of taxes, so that they are paying the debt of the classmates who flunked out and can’t pay.
If student loans were administered the way home mortgages are, the lenders would be looking at the borrower (his IQ and study habits,) his cosigners (parents and their credit rating,) the college, and the course of study.
One of the problems is parents who encourage their kids to attend expensive liberal arts colleges with high prices, and don’t care what the kid majors in, just so they can get bragging rights. The parents aren’t on the hook for all the money the kid borrows. Nobody is going to lend an 18 year old kid $100,000 to purchase anything else, at least not without cosigners assuming the risk too. And the college and course of study should be treated like any business plan.
i bet a young md with the max still due on his or her loan would love to see part of it written off. just ask one, if you can be bothered to show such care.
the whole point of establishing the usa was to throw off the shackles of mass enslavement to kings and lords, and let hard work and fortune propel upward social mobility. the enslavement is creeping back in in new forms. now, unless you’re already rich, you’ll borrow the equivalent value of a moderate middle class home to earn a degree that lets you earn a paltry teachers salary in sd. or you can relax and go untrained into the bottom end of the workforce and see how that goes. after covid a lot of students simply left the system and options to build a future are bleak, yes even here in sd where we all love the coursing, shooting gushing geysers of freedom we’ve had these past few years. i don’t care about biden’s plan one way or the other, but there’s dark twisty nastiness under the public face of our perceived freedoms that we shouldn’t ignore.
borrowing $200,000 & spending 4 years not working and gets you a job that pays $50,000/year is a bad business plan.
Sneaking across the border from Mexico to take a job in a SD dairy that pays $50,000/year is a good business plan.
Teachers are so smart, they spend 4 years and a whole lot of money to get a job that pays them as much as an undocumented immigrant. Decisions have consequences. If your chosen career doesn’t pay very much, maybe you should get a different job.
you can’t get past screening software on job apps without the proper ed background. it’s ridiculous that these required things are both ruinously expensive AND relatively easy to borrow huge money on with decades of payback. the do-nothing approach to widening access to higher ed has accidentally invented time travel crime – – this process is reaching forward into big chunks of people’s future money, and pulling billions of dollars backwards right into today from all of these futures. just sayin.
enquirer —-you are correct…a whole look at how we fund higher education is long overdue. It is not vocational education.
Let them eat cake!
1. Get federal backing of student loans
2. Outrageous rent seeking by institutes of higher learning, driving tuition prices over 300% higher than it was for baby boomers, WHEN CONTROLLED FOR INFLATION
3. Be told by those same baby boomers that college is essential for success
4. Watch as those same people nearly burn down the economy in 2008, getting treated to a bailout and golden parachutes for the execs leading these institutions?
5. ?????
6. STUDENT FORGIVENESS BAD; IZ HANDOUT; IZ SOSHULISM
Hey now, take it easy on those boomers, it wasn’t their fault they were mollycoddled, flushed away our manufacturing base for cheap, and are the least empathetic generation! It was the lead paint and lead fumes from gasoline that they fought against banning that did it!