President Biden announced $7.4 billion in student loan forgiveness for nearly 300,000 borrowers, which was criticized by Republican Rep. Virginia Foxx.
The forgiveness will cancel debt for 277,000 borrowers using income-driven repayment plans or who work in public service.
“This latest round of debt cancellation comes on the heels of President Biden announcing new plans that, if implemented, would cancel student debt for over 30 million Americans when combined with actions the Administration has taken over the last three years,” the White House stated.
This is the latest in a series of targeted debt cancellations by Biden since the Supreme Court blocked his broader plan last year.
Virginia Foxx, the chair of the House Education Committee, accused Biden of attempting to buy votes prior to the midterm elections by forcing taxpayers to foot the bills of student loan borrowers.
She argued the administration should instead focus on addressing widespread issues with the Free Application for Federal Student Aid form rollout that have made it difficult for students to access financial aid.
“The administration is tone deaf. There’s no other way to put it,” Foxx stated.
“We know that instead of doing its job the administration focused time, energy, and resources on its illegal student loan scheme. And that has been frustrating, especially since it has jeopardized the academic journey of millions of students,” she added.
“But what is absolutely maddening is that the administration is STILL not doing its job and instead focusing on its student loan shenanigans.”
