Representative Mariannette Miller-Meeks issued the following statement regarding President Biden's decision to cancel student loan debt:
“This decision is irresponsible, it's unfair, and undercuts students who work to afford tuition and parents who for years sacrificed and saved for the opportunity of a college education,” said Miller-Meeks. “It is a debt transfer from those taxpayers who forego college. Student loans shouldn't be viewed any differently than a mortgage or car loan - money taken out must be paid back by those who benefit.”
Background:
On Wednesday, August 24th President Biden announced his student loan forgiveness plan. Forgiveness applies to those earning less than $120,000. $10,000 will be forgiven to those who did not receive Pell Grants and $20,000 for those who received Pell Grants. The Biden Administration also extended the student loan pause until December 21, 2022, also capping loan repayments at 5% of a borrower's monthly income.
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