‘Plan B’ $750B student debt transfer to taxpayers draws bicameral rejection

(The Center Square) – Transferring student debt to taxpayers in a “Plan B” costing $750 billion has drawn a bicameral rejection letter authored by a North Carolina congresswoman and Louisiana senator and sent to the head of the Department of Education.

Signed by 130 Republican members of Congress, Secretary Miguel Cardona is told the latest rule-making proposal should be withdrawn and in no way could be the intent of the 1965 Federal Loan Insurance Program or its 2008 reauthorization. The letter led by U.S. Rep. Virginia Foxx, R-N.C., and Sen. Bill Cassidy, R-La., said the Education Department is making an even broader attempt to send the debt of 28 million borrowers, some with annual income exceeding $300,000, to taxpayers in a “backdoor attempt to enact ‘free’ college.”

In part, the letter reads, “The Supreme Court has made it abundantly clear that there is zero authority to
Read more…

Please follow and like us: