Smucker: Biden Debt Forgiveness Plan Won't Make Education More Affordable

Press Release

Congressman Lloyd Smucker (PA-11) released the following statement regarding the Biden administration's announcement regarding forgiveness of federal student debt:

"President Biden's decision does nothing to lower the cost of education. Instead, it will make college degrees more expensive, while simultaneously creating the expectation of the government canceling more student debt in the future. Rather than engage in the hard work of addressing the affordability of education, Biden has kowtowed to the most progressive elements of his party and has created a massive government giveaway. All on the backs of the American taxpayer.

We should be working to empower students to make informed choices on where they choose to study. Additionally, we should be holding schools accountable to outcome-based metrics and incentivizing students' on-time completion. The Biden Administration has incentivized schools to raise prices and private lenders to raise their loan rates on students.

Biden must clearly tell Congress and the American people under what constitutional authority this action has been taken. This action appears to be a massive expansion of executive power taken without the authorization of Congress and without basis in the powers afforded the president in current law.

What does President Biden have to say to those who already paid their federal student loans? What does the president have to say to the overwhelming majority of Americans who never took out student loans? The only thing Biden has delivered for hard-working Americans is 40-year high inflation and an economy in recession. This massive government giveaway is a slap in the face to those who worked hard and played by the rules to pay for their education.

Biden's decision is misguided, short-sighted, and costly," said Smucker.

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