Posted on 09/13/22
| News Source: The Hill
Twenty-two Republican governors, including Florida’s Ron DeSantis and Texas’ Greg Abbott, have sent a letter to President Joe Biden opposing his plans to cancel student loan debt and telling him to withdraw it “immediately.”
The joint letter sent Monday, spearheaded by Iowa’s Kim Reynolds, stated Biden’s plan of $10,000 in debt forgiveness would cost $600 billion total to taxpayers. The letter claimed that is unfair for the vast majority of taxpayers to pay for loan forgiveness when only 16-17% of Americans have federal student loan debt. They added that the plan would shift the burden of debt from the wealthy to the poor.
The joint letter went on to say that it was the decision of the students to take out loans.
“College may not be the right decision for every American, but for the students who took out loans, it was their decision: able adults and willing borrowers who knowingly agreed to the terms of the loan and consented to taking on debt in exchange for taking classes,” the letter stated. “A high-cost degree is not the key to unlocking the American Dream—hard work and personal responsibility is.”
The governors added that the plan is unfair to those who have already paid off their loans.