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Republicans introduce bill that would stop Biden from canceling student loan debt
Business Insider via Yahoo NewsStudent loan borrowers eager for broad debt forgiveness will be out of luck if Sen. Mitt Romney has anything to say about it.
The lawmaker from Utah along with several of his Republican colleagues on Wednesday introduced a new bill that would bar the Biden administration from broadly canceling student loan debt — a political move the president has been considering since he took office last year.
The Student Loan Accountability Act would prohibit Biden's Education, Justice, and Treasury Departments from taking any action that would cancel or forgive student loan borrowers' outstanding balances or even portions of those balances, according to a Wednesday press release.
The bill would include exemptions for student loan forgiveness, cancelation, and repayment programs that are already in effect, such as the Public Service Loan Forgiveness and Teacher Loan Forgiveness programs.
Republican Sens. Richard Burr of North Carolina, Tim Scott of South Carolina, Bill Cassidy of Louisiana, and Thom Tillis of North Carolina joined Romney in introducing the bill in Congress this week.
The lawmaker from Utah along with several of his Republican colleagues on Wednesday introduced a new bill that would bar the Biden administration from broadly canceling student loan debt — a political move the president has been considering since he took office last year.
The Student Loan Accountability Act would prohibit Biden's Education, Justice, and Treasury Departments from taking any action that would cancel or forgive student loan borrowers' outstanding balances or even portions of those balances, according to a Wednesday press release.
The bill would include exemptions for student loan forgiveness, cancelation, and repayment programs that are already in effect, such as the Public Service Loan Forgiveness and Teacher Loan Forgiveness programs.
Republican Sens. Richard Burr of North Carolina, Tim Scott of South Carolina, Bill Cassidy of Louisiana, and Thom Tillis of North Carolina joined Romney in introducing the bill in Congress this week.
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